The NBU&#39;s Solohub says the economic decline will be steeper than expected Photo from UNIAN The National Bank of Ukraine has revised its forecast for the country&#39;s economy, projecting it will shrink by 6-7% in 2020 against the previously expected 5%. "Based on the decline seen in the first quarter along with indicators of industrial production and transportation in April, I think the decline may be more serious than expected," the Ukrainian economic news portal Ekonomichna Pravda quoted NBU Deputy Governor Dmytro Solohub as saying. Read alsoGDP slides 0.5% in Ukraine – central bank "Accordingly, if we extrapolate the dynamics to the entire year, we could speak about a decline by 6-7% rather than 5%, as it was until now. But under these circumstances, it&#39;s not such a big difference – everything is moving approximately within the same scenario," he said. As UNIAN reported earlier, the Central Bank previously predicted that Ukraine&#39;s GDP would decrease by 11% in the second quarter of 2020. The NBU noted that the negative impact of the coronavirus pandemic on the Ukrainian economy will be relatively short-term, but rather strong. Quarantine-related measures have already reduced business activity, consumption and employment. Reducing global demand also limits the country&#39;s export opportunities.