Ukraine’s economy can shrink by -1.6% in the first quarter due to coronavirus

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If the coronavirus restrictions “are not prolonged” Ukraine’s economy will shrink by -1.6% in the first quarter and will end the year with 1.9% growth, estimates Adamant Capital.

“We expect it take a substantial toll on the economy. Domestic trade, education, transportation, hotel and restaurant services, and entertainment are likely to be among the larger sufferers, though spillover effects to other sectors (such to finance and real estate) are likely,” the Kyiv-based investment house reported Tuesday.

Last year’s growth is estimated to be 3.6%.

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