Ukraine's grand domestic product (GDP) in the second quarter of 2020 decreased by 11.4% year-on-year, the State Statistics Service reports.
The result is 0.4 percentage points worse than forecast earlier.
Read alsoUkraine's Economy Ministry publishes revised forecast, predicts 4.6% GDP growth in 2021At the same time, to Q1 2020, GDP in Q2 decreased by 9.9%.
Previous forecasts
- Earlier, the Ministry for Development of Economy, Trade, and Agriculture estimated the drop in Ukraine's GDP in Q2 2020 at 11%.
- Fitch Ratings in connection with the COVID-19 pandemic predicts a 4.6% fall in global GDP in 2020 on year, which is 2.7 percentage points worse than the agency's forecast released in April.
- Minister of Finance Serhiy Marchenko said the Ukrainian economy this year would fall by no more than 5%.