The 2020 crisis will not hit Ukrainians so dramatically – there is nowhere to fall
In the second half of 2020, a global economic crisis may begin, which will inevitably affect Ukraine, although not as much as the 2009 crisis.
However, even with the previous five-year decline, there will still be massive layoffs and revenue cuts.
Anatoly Amelin, director of economic programs at the Ukrainian Institute of the Future, stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“If we face a crisis next year, it will most likely begin no earlier than the 3rd or 4th quarter. And this will lead to a decline in the Ukrainian economy by about 8-9%.
Inflation will accelerate and we will face devaluation. The crisis will primarily affect the demand for raw materials. This will be associated with job cuts.
Let me remind you that during the 2008-2009 crisis, Ukraine cut about a million jobs, and the Ukrainian economy shrank by more than 12%.
But at that time we had several “bubbles”; now there are practically none, so the drawdown due to a possible crisis in 2020-2021 should be less.
Accordingly, the negative consequences for the economy will be less. But this does not mean that it will be easier for us,” the expert concluded.
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