The economy Ministry forecasts GDP decline by 11%

Минэкономики прогнозирует падение ВВП на 11%

The gross domestic product of Ukraine in January-June 2020 decreased by 6.5%.

In the second quarter of this year, the economic decline is expected to reach 11%.

This was read as the review of the Department of strategic planning and macroeconomic forecasting of the Ministry of economy of Ukraine.

It is noted that at the end of this semester (January-July) the decline in GDP was estimated at 6.5%. For the period January-may, the decline was at the level of 5.9%. So over the month it decreased by 0.6%.

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Also in the Ministry of economy said that the expected fall of VVV in the second quarter of 2020 are lower than expected. Previously, the Finance Ministry had expected a fall in Gross domestic product for April-June this year compared with the same period of 2019 to 14%.

As you know, according to the forecast socially-economic development of Ukraine for the next three years, until the end of 2020 GDP is expected to fall by 4.8%, but from 2021 will increase by 4.6%.

In Ukraine for seven months the budget deficit amounted to 47.4 billion

We will remind, for January-June of the current year the volume of industrial production in Ukraine decreased by 11.3% compared to the same period of 2019, to 1.13 trillion UAH.