The Ministry of Economy predicts a decline in Ukraineʼs economy by 40%

Oleg Panfilovych

The Ministry of Economy forecasts that GDP may fall by 40% by the end of the year.

This was reported by the press service of the department.

In the first quarter, Ukraineʼs economy will fall by 16%. "Those areas in which remote work is impossible to have suffered the most. These are, in particular, air and sea transportation, the sphere of services, where business works directly with consumers", said First Deputy Minister of Economy Denys Kudin.

At the same time, he added that over the past 10 days, the economy as a whole has begun to recover, businesses in safe regions are returning to work, and farmers have started sowing.