Kiev expert: default is inevitable for Ukraine

If the situation with coronavirus drags on for several months, Ukraine will lose about a quarter of its economy.

Kiev expert: default is inevitable for Ukraine

Kiev political expert Sergey Belashko spoke about his vision of the development of the economic situation in Ukraine in the context of the coronavirus epidemic.

“Economists, financiers, and social policy experts estimate the economic decline by 8-10% as a result of quarantine announced. Most agree that if quarantine drags on for more than a month, the economy will decrease by 20-25%. Because the entire sphere of catering, entertainment – it’s all just dying as unnecessary or freezing for some period, moreover, a long period …

You can print at least a thousand, at least ten, at least one hundred thousand, but very quickly the depreciation of the national currency and price increases will begin. I do not see any kind of horror in default, because in modern conditions, that is, in the situation that is developing, default for Ukraine is inevitable.

The only question is that the government should correctly calculate these risks and choose the best moment for this default, ” Belashko said.

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