Ukrainians almost halve food spending amid COVID-19 epidemic – poll

Experts say Ukrainians were forced to cut food spending by almost half during the quarantine introduced over the COVID-19 epidemic in the country.

That is according to the Ukrainian TSN TV news service, referring to a recent poll conducted by R&B Group.

Read alsoSpring price hikes: Experts name foodstuffs to be affected"Some 44% of respondents are saving on food now. A third of Ukrainians are less likely to buy expensive things, while one in four takes time to decide on buying a luxury item," the publication said on March 31.

Cost optimization affected the purchase of clothes and leisure services. Thus, 49% of respondents buy new clothes more economically, while half of Ukrainians plan a vacation with a smaller budget.

"Noteworthy, Ukrainians don't save on education though. Only 7% of respondents have reduced their spending in this area. Meanwhile, a mere 5% of Ukrainian citizens have not been affected by the coronavirus crisis," it added.

Economic forecast for Ukraine

• The World Bank has revised upwards its forecast for the growth of Ukraine's gross domestic product (GDP) in 2021 to 3.8% from 3%, which was projected in early January.
• The World Bank explains the economic recovery in 2021 will be mild due to high uncertainty associated with the vaccine rollout and the direction of economic policies to address bottlenecks to investment and safeguard macroeconomic sustainability.