PM Shmyhal says Ukraine should brace for economic crisis

He has ordered to develop several scenarios to ensure that quick countermeasures could be taken for all of them.

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Ukrainian Prime Minister Denys Shmyhal has said the Cabinet of Ministers should get prepared for an economic crisis in Ukraine, which could be a consequence of an impending global financial crisis.

"The government will not and does not have the right to confine itself to fighting coronavirus. We must prepare the country for other challenges, too – a global crisis and a possible economic crisis in Ukraine, which will be the consequence of the first, about which we have no doubt, and this is also a challenge for the economy minister, for the government, for the whole country and, in particular, businesses," PM told a government meeting on Wednesday.

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The prime minister has also instructed newly appointed Minister of Economic Development, Trade and Agriculture Ihor Petrashko to develop several scenarios to ensure that quick countermeasures could be taken for all of them.

"We're analyzing the state of both the Ukrainian and the global economy," Shmyhal said.

As UNIAN reported earlier, on March 11, Shmyhal said Ukraine today has a stronger position than at the beginning of the 2008 global financial crisis.

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