Photo: Корреспондент.net this year in Ukraine is expected a significant reduction in yield

The decline is due to a deterioration of the situation in agriculture due within the beginning of the harvest and low yield.

In mid-summer the fall of the production Index of basic industries of Ukraine intensified, according to a review of the National Bank in July.

According to published data, the unemployment rate fell to 9.6% y/y (8.9% y/y in may).

The reason for this is the decreased production in agriculture (40.6% yoy) due to the late start of the harvest and a lower yield of early grain crops.

The majority of kinds of economic activities demonstrated growth due to the easing of quarantine restrictions, to restore domestic and external demand and the cost of road construction.

 

In particular, slowed the decline in the industry (up 5.6% yoy) and continued growth in wholesale and retail trade. The increase in volumes of transit of gas has led to a slowdown of the decline in freight transport. Budget expenditures on road construction was supported by improved performance in construction.

“However, passenger transport, despite the improvement in traffic figures still showed a significant decline against the preservation of certain restrictions in the framework of adaptive quarantine,” – said in the review.

 

According to the NBU, during the second quarter of 2020 the decline in the economy of Ukraine made up 11%.

With the beginning of the year Ukraine’s GDP, according to the Finance Ministry, fell by 14%.

 

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