Ukraine's economy ministry estimates GDP decline in H1 at 6.

The decline in the second quarter (Q2) alone is estimated at 11%.

REUTERS

REUTERS

Ukraine's Ministry for Development of Economy, Trade and Agriculture estimates a decline in the country's GDP in the first half of the year at 6.5%, while the decline in the second quarter (Q2) is estimated at 11%.

"In January-June, foreign economic activity decreased by 7.7% (7.3% in January-May) and, accordingly, the decrease in GDP was estimated by the Economy Ministry at 6.5%," the ministry said in its economic review for H1 2020.

Read alsoUkrainian banks post lower profits over quarantine – NBU

The decline in Q2 2020 against Q4 2019 was 11%, which is slightly less than previously expected, i.e. a 14% decline.

As UNIAN reported earlier, the National Bank of Ukraine estimated the decline in GDP in the second quarter of 2020 at 11% in annual terms.

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