"No money to cover it": Ex-cabinet official comments on cost of possible lockdown

The government assistance for entrepreneurs required in case a total lockdown is introduced in Ukraine could cost the national budget a total of UAH 20 billion (over US$700 million), ex-deputy economy minister Pavlo Kukhta opined.

"Tentatively, such support for entrepreneurs in industries hit by a lockdown is about UAH 20 billion per month. There's no such money in the Ukrainian budget today. There is hardly enough money to pay pensions and salaries," the former official told Ukraine 24 TV.

Kukhta believes the only way out of the crisis is to quickly ensure the unlocking of the IMF Stand-By Arrangement and receiving another loan tranche.

Read alsoPresident's Office explains why lockdown could be re-introduced in UkraineAlthough, he adds, Ukraine could already be lacking time to secure the funds before year-end.

"I think we won't see the money earlier than January – that's the best scenario. Also given that world markets are idle, we will most likely miss January, too," Kukhta suggested.

Lockdown prospects: Latest

• Health Minister Maksym Stepanov said a tougher quarantine would be imposed if the daily rise in COVID-19 cases exceeded 30,000.
• Prime Minister Denys Shmyhal said preparations for a full-blown lockdown – as Plan B – were indeed underway, while stopping short of naming the possible date for the move.
• Ivano-Frankivsk Mayor Ruslan Martsinkiv following a meeting with the prime minister on November 19 claimed the government could introduce in December, for a few weeks, a lockdown across Ukraine.