#GMD Conference 2020: Summer edition, Ukraine, Odessa

Aug 20, 2020

Economy of Ukraine to fall by at least 5% instead of 3.5% growth – Adviser to the President




In 2020, the economy of Ukraine will fall by at least 5% instead of 3.5% growth, said the Adviser to the President of Ukraine on economic issues, Oleg Ustenko during the interview with APK-Inform.

“Initially, the economic growth of 3.5% was included to the state budget of 2020, and I considered such growth to be rather conservative. There was the high possibility of more optimistic development. Our economy needs at least 5% growth to fight poverty effectively. However, today we have the inverted effect due to the economic crisis”, - he explained.

O.Ustenko supposed that this fall could cost the Ukrainian economy 8.5% of GDP that is equal to 10 bln USD in monetary terms. It is “a real severe blow” for such economy as Ukrainian.

Oleg Ustenko will be one of the key speakers at GMD Conference 2020: Summer Edition, to be held on August 20 in Odessa (outdoor area of Maristella Marine Residence hotel).



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