EBRD says Ukraine’s economy awaits

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EBRD’s director in Eastern Europe and the Caucasus shared his forecasts about the further development of the Ukrainian economy

European Bank for Reconstruction and Development (EBRD). Photo: asiaplustj.info

The European Bank for Reconstruction and Development predicts a decline in Ukrainian GDP. This publication reports Voice of america With reference to a statement by EBRD Director Matteo Patrón for Eastern Europe and the Caucasus.


Matteo Patron
EBRD

According to Patrón, the basic scenario for the development of the situation in Ukraine implies the following: a short-term recession awaits the country, followed by a rapid economic recovery, which will be facilitated by public sector investment.

According to the expert, the banking system is well placed to overcome the challenges of the crisis. He also said that Ukraine, as an exporter of goods, would feel the impact of price on commodity markets. Uncertainty in the global market will also not be affected by the devaluation of the hryvnia and the increase in the rate of Eurobonds.


Matteo Patron
EBRD

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Earlier we wrote that Vladimir Zelensky asked the deputies of the people to pass two bills on the land market and banks, which are necessary to get international financial support. The president said that in the event of a failure of the vote for these bills, “there would be a risk of a deterioration in the economy and even a default.”

Read: Support for business customers: FUIB cancels a fee to be paid in national currency for the quarantine period


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