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Photo: factory (Vitaliy Nosach, RBK-Ukraine)
Eliminating strict quarantines could lead to growth
A return to economic growth in Ukraine may take place at the end of 2020. The reactivation of the efficiency of the activity will take place subject to the non-return of strict quarantine measures both in the world and in Ukraine.
This is stated in the review of the Department of Strategic Planning and Macroeconomic Projections of the Ministry of Economy.
As noted in the Ministry of Economy, the coronavirus pandemic and the influence of the containment factors formed in previous periods had negative consequences for the productive sector, especially in the first half of 2020.
In particular, the pandemic caused a change in trends in the development of the world economy, a significant drop in demand and prices in world commodity markets, and prompted preventive measures both in Ukraine and in the countries that are the main Business partners.
However, the easing of quarantine restrictions as of mid-May and their subsequent lifting in the context of the implementation of government decisions aimed at reducing the impact of the COVID-19 pandemic will allow economic activity to reactivate and wait for a resumption of the growth at the end of this year, as long as the harsh quarantine measures are not returned as in the world. so in Ukraine “, – said in the message
Along with that, a separate influencing factor until the end of the year is the downward dynamics in agriculture, particularly in crop production, under conditions of decline compared to last year’s record grain harvest volume.
We will recall, Economy Minister Igor Petrashko said in an interview with RBC-Ukraine that the Ukrainian government prefers a targeted response to outbreaks of the epidemic in the event of a second wave of COVID-19 and the complete shutdown of the business is not planned.
Note that, according to a survey by the Sociological Group “Rating”, half of Ukrainians are against strict quarantine during the second wave of the epidemic.
As RBC-Ukraine reported, according to the Ministry of Economy, the real gross domestic product (GDP) of Ukraine in January-July 2020 decreased by 6.2%.
