According to Kyrylo Shevchenko, the Governor of the Central Bank, two new factors are degrading economic performance.

“The low rate of vaccination in Ukraine creates an additional risk of future economic losses,” he said. Less than one percent of Ukraine’s population has received a first shot of a coronavirus vaccine. Russia’s big military buildup is also increasing uncertainty. He said: “After the news of the beginning of the escalation, we felt additional demand from non-residents to buy foreign currency.”