On April 6, the Cabinet of Ministers released the info-graphic of the macroeconomic recession. Due to the coronavirus pandemic, Ukraine’s macroeconomic indicators were revised twice, which are slightly different from projections for the end of 2019.
For example, Ukraine’s GDP will decline by 4.8% this year, and inflation may accelerate to 11.6%. It is also expected to increase unemployment to 9.4%, and the average monthly salary will fall by almost 2,000 UAH.
The country’s economics is completely unprepared for even the slightest fluctuation, not to mention a global pandemic. Mr. Zelensky and his team promised a solid economy under any conditions, but, as we see, it didn’t work out.
There are a lot of questions, but we are unlikely to get answers from the government. This proves once again that it is much easier to engage in populism and rule the country in the cinema than in real life.