Ukrainian President Volodymyr Zelensky / REUTERS
The president noted growing exports for the second month in a row and an increase in the National Bank's reserves.
Ukrainian President Volodymyr Zelensky predicts a "tangible and sustainable" economic recovery in Ukraine by the end of 2020.
He said this during an interview with the Slovak daily economic newspaper Hospodárske noviny, as reported by the President's Office on September 23.
"In the second quarter, we had an economic downturn like all other countries. In particular, minus 11.4% of GDP. This was the period of the toughest quarantine curbs," Zelensky said.
However, an economic recovery will be "tangible and sustainable," he added.
"For the second month in a row, we are recording an increase in exports, which is a very good sign. The international reserves of our National Bank are growing as well," he said.
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Zelensky said that Ukraine, like other countries, focused on helping victims of the pandemic. In particular, the government has developed a loan program with reduced rates for businesses, a program of refunds for those who have lost their jobs. Those registered with employment centers are actively assisted in finding a new job. Other programs have been launched.
"It is important that the [COVID-19] vaccine is invented as soon as possible and that we, working together and helping each other, develop pan-European responses to the negative effects of the pandemic," he summed up.
On September 22, Dragon Capital, and investment company, said in its report that the Ukrainian economy was recovering faster than it was expected after a moderate decline in the second quarter of 2020, and the country would be able to return to pre-crisis indicators by the end of 2021.