REUTERS
The negative impact of the pandemic on the Ukrainian economy is amplified by the onset of a global economic recession.
The Cabinet of Ministers predicts that as a result of the coronavirus pandemic, Ukraine's GDP in 2020 may fall by 4-8% on year.
That's according to the updated Government Action Program.
"The negative impact of the pandemic is amplified by the onset of a global economic recession, which could deliver a significant blow to the well-being of the population. According to IMF forecasts, the global economy is expected to fall by 3%. Ukraine, in turn, is traditionally more vulnerable to economic shocks, and therefore could suffer a significant impact: GDP may fall by 4-8% against 2019," the Program says.
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As UNIAN reported earlier, the International Monetary Fund worsened the outlook for Ukraine's GDP decline in 2020 to 8.2%.
The updated Action Plan drawn by government is several dozen pages long, having been structured for each ministry.
On June 4, the Verkhovna Rada supported the decision to return Denys Shmyhal government's action program for revision amid sharp criticism voiced by MPs. Parliament could consider the updated version of the program at a meeting on June 18.