The Ministry of Finance announced the beginning of an exit from crisis


The critical stage of the crisis is behind us.

In June 2020 in Ukraine start the economic process after a heavy previous two months, which gives grounds to consider that Ukraine is emerging from crisis. This was stated by the Minister of Finance, Sergei Marchenko, reported the with reference to the Correspondent.

“There is reason to believe that the most critical stage of the crisis we went through. They are now recovering,” said the Minister.

Marchenko also said that he sees no reason to believe that the economic decline in Ukraine will be higher than in developed countries.

“We believe that the 4.8% drop in GDP, a real indicator. There are several reasons. Ukraine is not strongly integrated into the most affected in the economic chain of the global economy. The markets of our export products are preserved. We are talking about grain and food products. Falling prices for iron ore and metal is not as strong as oil and gas,” he said.

According to him, for Ukraine from the point of view of external positions, the situation is not as vulnerable as other countries.

Marchenko reminded that Ukraine is one of the top countries that provide the world with food. And for these commodities, the demand has always been.

We will remind, in January-may, Ukraine’s GDP fell by 5.9%. However, in may, most sectors have slowed the rate of falling amid easing of the quarantine restrictions.

As reported, in January-March, 2020 Ukraine’s GDP fell 1.3% compared to the same period of 2019. While a preliminary assessment released in mid-may, the figure was 1.5%.