The Economy Ministry estimates that Ukraine’s GDP contracted by 5.9% from January to May, the height of the Covid lockdown period. With the economy starting to recover, estimates of the year end GDP performance range from -4 to -8%. In June, the National Bank of Ukraine’s index of business activity expectations hit 45.5 points, up from 29.9 points in April. Below 50 indicates a rather pessimism.
The Economy Ministry estimates that Ukraine’s GDP contracted by 5.9% from January to May, the height of the Covid lockdown period.
