Form of economic recovery is likely to repeat the global trends and the scale of the crisis and the recovery rate will be determined by the specific characteristics of the economy and the actions of the authorities
Co-founder of the group of ICU Makar Pasenyuk predicts the fall of the Ukrainian economy this year at 6-8% with a consequent restoration of the U-curve. This opinion was expressed by the financier in an interview LIGA.netwhich also commented on the impact of the pandemic COVID-19 on the macroeconomic situation in Ukraine and the world.
Pasenyuk said that the Ukrainian economy is heavily dependent on the world market, so the shape of the recovery is likely to repeat the global trends and the scale of the crisis and the recovery rate will be determined by the specific characteristics of the economy and the actions of the authorities.
“In our forecast published in early April, we laid the fall of the Ukrainian economy this year by 6-8%, and the recovery of the U-curve. Still, the demand will be prolonged, both because of lower income and insufficient savings and a more cautious behavior of households and businesses. This is indirectly confirmed by the low rate of inflation in April. In early June, we do plan to update our forecasts based on April statistics, which should show the first reaction of the economy to quarantine,” says Makar Pasenyuk.
Also, he said, because of its structure Ukraine’s economy would have to suffer from the effects of the pandemic is much less than developed countries. This is because a large role in the national economy are agriculture and the IT sector, and they hurt a lot less than services or trade of investment goods and durable consumer goods, which, on the contrary, more strongly developed in other countries.
Help. Makar Pasenyuk, co — founder of the international financial group ICU, member of the Board of Directors of KSE. In 2006, together with Konstantin Stetsenko and other natives of ING Bank founded the ICU. ICU is a leader in securities trading and asset management in Ukraine. Under the management of the group are assets amounting to more than $ 500 million.
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