Brexit will drive the Ukrainian economy into the red – Blazer Foundation
The process of Britain's exit from the European Union will negatively affect the state of the Ukrainian economy.
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The corresponding forecast was announced at a press conference in Kyiv by Oleg Ustenko, executive director of the International Blazer Foundation.
“Brexit, according to our calculations, will hit the Ukrainian economy by at least two percentage points,” the analyst noted. – This means that we have the right to worsen the extremely bad (from 1 to 2 percent growth for this year) forecast for the Ukrainian economy. Take off two percentage points. And if the situation is good, you will find yourself in the zero zone, and if the situation is bad, you will be in the falling zone.”
“40 percent of our exports are now concentrated in the EU,” the expert explained. – This means that 20 kopecks from every hryvnia that we receive in Ukraine now is paid by consumers in the EU. Against the backdrop of Brexit, they will have a devaluation of the euro. In the baseline scenario, the euro is expected to devaluate by 10 percent. So we can fully expect a hit to our GDP.”
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