Ukraine's GDP May Fall By 4-8% In 2020 Over COVID-19 Pandemic - Government

KIEV (Pakistan Point News / Sputnik - 29th May, 2020) The Ukrainian economy may fall by 4-8 percent this year compared to 2019 over the pandemic of the coronavirus, the government's program of the economic recovery says.

On Wednesday, the Ukrainian cabinet supported the economic program, which is due to ensure the GDP growth in the second half of this year.

"According to IMF predictions, the global economy is expected to fall by 3 percent. In turn, Ukraine is traditionally more vulnerable to economic shocks: the GDP may decrease by 4-8 percent compared to 2019," the document reads.

The World Health Organization declared the COVID-19 outbreak a pandemic on March 11. To date, more than 5.7 million people have been infected with the coronavirus worldwide, with over 358,000 fatalities, according to Johns Hopkins University.

Ukraine has confirmed 22,382 COVID-19 cases so far, with 669 fatalities.