Ukraine has not yet reached the bottom of the economic decline
The emerging economic crisis will be more serious than in 2014; residents of the country should prepare for difficult times.
Ex-Deputy Chairman of the NBU Board Alexander Savchenko stated this on the UKRLIFE.TV channel, a PolitNavigator correspondent reports.
“The fall in Ukraine will be very deep. I expect that in the second quarter we will have a minus 15% drop in GDP. In the first quarter, GDP fell by 1,3%, industry - much more, in May - by 16%. GDP in May will fall by approximately the same amount. In general, the deep decline will last until September-October. We'll hit rock bottom in the third quarter. And this bottom is minus 15%.
This means that people on average will receive 15% less salary. 20 percent of people will be unemployed. We will pay 15% less taxes, i.e. The budget deficit will not be 8%, but 10-15%.
That is, in terms of scale, this is the same crisis as in 2014. But it is more terrible - there may be a quarantine, any measures can be taken for quarantine. Officials don't even think about the economy. Therefore, Ukrainians need to prepare for very difficult times. I advise poor people to save, not to spend everything they have. The state does not help and will not help. We are the only country in Europe that has done this to its people and business,” Savchenko said.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.