NBU predicted peak of the economic crisis

In the second quarter of 2020 Ukraine expects the peak of the economic crisis, despite the fact that the country began the first phase of exit from the quarantine imposed due to the spread of the coronavirus.

НБУ спрогнозировал пик экономического кризиса

As the Wave passes, as reported by the national Bank of Ukraine.

It is noted that the peak of the economic crisis in Ukraine will be in the second quarter of this year.

The NBU also reports that the pandemic coronavirus worldwide has increased the number of unemployed. In particular, the labour market has deteriorated in Ukraine, because companies cut staffs, and some are forced to send workers on unpaid leave.

In addition, reduced the number of vacancies on the sites of employment in all sectors and remains significantly lower than it was before the crisis.

Estimates of the National Bank, the peak of the economic crisis in Ukraine will be the second quarter. The lifting of quarantine is likely to occur before the end of June, and it means that business activity will soon revive. Along with this you should expect a recovery in the labor market, “writes the national Bank.

It is also noted that the unemployment rate until next year may recover to how they were before the crisis.

The NBU also believe that if you ignore key factors, Ukraine may expect a long-term development of the economy. These include: low productivity, skills of the labour force do not meet the requirements of employers, migration, low level of participation in the labour force (in other countries work to attract a greater number of women in comparison with Ukraine), as well as aging and population decline.