REUTERS

The National Bank of Ukraine (NBU) has given a forecast for the economy after the lockdown.

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"The negative impact of the lockdown on the Ukrainian economy will be relatively short-lived, though rather strong, and will manifest itself in a decrease in external demand and a drop in business activity, consumption, and employment. The impact of these factors on the economy will be most noticeable during Q2 2020, according to NBU estimates," the NBU said in an Inflation Report for April 2020.

"The lifting of quarantine restrictions will lead to a rather rapid recovery of the Ukrainian economy in H2 2020. This will be facilitated by loose fiscal and monetary policies. Increased government spending to overcome the crisis, as well as the NBU's measures to aid borrowers and to ramp up business lending, will mitigate the economic fallout of the pandemic," the regulator said.