The Ministry of Finance: We expect a GDP decline of no more than 4-8%

Минфин: Мы ожидаем падения ВВП не более 4-8%

The head of the Ministry of Finance of Ukraine said that in June recorded a pause in the decline of the economy.

According to preliminary estimates of the Ministry of Finance, the economic decline that occurred in Ukraine in April-may, in June stopped.

The journalists said the Minister of Finance, Sergei Marchenko.

“We expect a GDP decline of no more than 4-8%. We have more optimism about the recovery of economic dynamics. There are already factors that demonstrate, for example, the increase of consumption of electric energy. Also increases the registration of new business entities and have ceased to rise unemployment. We have reason to believe that in June we stopped the economic decline, which was observed in April-may,” — said Marchenko.

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He also stressed that now it is impossible to expect a greater economic decline than expected by the government.

According to preliminary estimates of the National Bank, due to quarantine restrictions to overcome the pandemic, and the global crisis the Ukrainian economy will shrink by 5.0% in 2020, while the largest drop is expected in April-June by 11%.

According to IMF estimates, the decline of Ukraine’s economy in 2020 will reach 8.2 per cent.