Ukraine's GDP decline may reach up to 40% by late 2022

Ukrainian presidential adviser for economic issues Oleg Ustinenko has said that the fall in GDP by the end of the year could be 35-40 per cent.

"When 40-50 per cent of your business does not work or does not work at full capacity, it is clear that there will be a decrease in GDP. We expect that the decrease will still be approximately at the level of 35-40 per cent this year," Moscow-based Russian news website Gazeta.ru reports, quoting Ustinenko.

President Zelenskyy's adviser added that in early 2022 a budget deficit of $ 7 billion was forecast in Ukraine. Now it is $5 billion a month.