The State Statistics Service of Ukraine predicts a 11.4% GDP drop in Q2

GDP declined by 9.9% against the previous quarter

The State Statistics Service of Ukraine reported a 11.4% drop in the country’s real GDP in Q2 2020 compared to the same period a year earlier.

Real GDP declined by 9.9% against the previous quarter.

GMK Center earlier reported that the National Bank of Ukraine forecasted a 11% economic recession in Q2 2020 compared to the same period of the previous year.

The key recession factors include quarantine restrictions imposed on certain economic activities and a decline in agricultural production due to delayed harvesting.