Zelensky: We will feel improvements by the end of the year.

The economic recovery from the coronavirus crisis will be tangible and sustainable by the end of the year, the president promises.

By the end of the year, Ukraine will feel improvements in the economy, says President Volodymyr Zelenskyy. This was stated in an interview with the Slovak newspaper Hospodárske noviny, whose text was published by the presidential office on Wednesday, September 23.

“In the second quarter, we had a recession in the economy, like all other countries. We had less than 11.4% of GDP. This was during the most severe quarantine restrictions. But by the end of the year, the economic recovery will be tangible and sustainable. For the second month in a row we have been fixing growth in exports, which is a very good sign. The international reserves of our National Bank are growing, “said the President.

Zelensky noted that Ukraine, like other countries, focused on helping those affected by the pandemic: they developed a program of cheap loans for companies, financial compensation for those who lost their jobs, stepped up assistance to find a job registered in the centers. employment and other programs.

“It is important that a vaccine is invented as quickly as possible and that, working together and helping each other, we develop pan-European responses to the negative consequences of the pandemic,” he stressed.

According to the Ministry of Economy, for seven months, Ukraine’s economy contracted by 6.2%. The decline began to slow down in July.

As a reminder, the National Bank expects the economy to contract by 6% by the end of 2020.

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