The fall in GDP in August fell to 5.8% – Ministry of Economy

The volume of the fall in the gross domestic product of Ukraine began to decline in July after a peak fall – these are the results of eight months of 2020, announced by the Ministry of Economic Development and Trade on October 12. According to the ministry, almost all economic sectors have slowed their decline amid soft quarantine, some of them – in particular, retail and construction – even showed growth. The Ministry of Economy points out that the partial recovery of passenger traffic, the implementation of deferred consumer demand, as well as the beginning of harvesting from farmers played a role in the recovery of the economy.

See also: Unemployment is growing, vacancies remain: how the coronavirus pandemic affected the Crimean labor market “According to the NBU, the business activity expectations index in August 2020 compared to July 2020 by 1 point and amounted to 47.9 points , in particular, business is restrained in assessing the results of its activities against the background of the prolongation of adaptive quarantine. As a result, at the end of eight months of 2020, the reduction in the composite production index slowed down and amounted to 6.5% (7.3% in seven months of 2020). Accordingly, the Ministry of Economy estimates the decrease in GDP at the level of 5.8% (compared to last year – ed. “, – the ministry reports.

Read also: Veterano founder Leonid Ostaltsev:” Victory is never easy price “The fall in GDP, according to the published data, reached a peak in June – 6.7%. After that, the indicator began to gradually decline. The minimum of the composite index of production of goods, which reflects the dynamics of the production sphere of the national economy, fell on the same month and amounted to 7, 7%.

According to the latest forecast of the World Bank, in 2020 the Ukrainian economy will fall by 5.5%

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