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Economy 2020-05-28T04:01:39+03:00
Ukrainian news
Economic Downturn Peak In Ukraine Will Take Place In Q2, 2020 – NBU

Economic Downturn Peak In Ukraine Will Take Place In Q2, 2020 – NBU

Ukraine, NBU, unemployment, crisis, COVID-19, coronavirus epidemic, coronavirus pandemic, economic downturn

In compliance with the estimations of the National Bank of Ukraine, the peak of the economic downturn in Ukraine will take place in the second quarter of 2020.

The NBU has said this in a statement, Ukrainian News Agency reports.

According to the report, one of the consequences of the coronavirus pandemic is the growth of unemployment all over the world.

Besides, the labor market state in Ukraine has worsened as well: enterprises carry out redundancies, some make employees to go on unpaid leave.

The number of vacancies on employment websites is much lower than that before the crisis.

The NBU says that in 2021, the level of unemployment will probably return to its before-crunch indicators.

As Ukrainian News Agency earlier reported, NBU Council Head, Bohdan Danylyshyn, said that the NBU would not have enough reserves to independently counteract the economic downturn.


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