Research: Ukraine could lose $53.5 billion to COVID-19 in worst-case scenario


A police officer stands near a symbolic barrier and posters reading “Government into quarantine!” during a protest in front of the Cabinet of Ministers building in Kyiv on May 6, 2020. Entrepreneurs demanded that the authorities ease restrictions to save them from bankruptcy during the global COVID-19 pandemic.

In a worst-case scenario, Ukraine could lose $53.5 billion in gross domestic product because of the COVID-19 pandemic and the economic consequences of the quarantine restrictions,  according to new research by the Kyiv School of Economics, Ukraine’s leading business school.

Such a loss would amount to roughly a third of Ukraine’s GDP, which stood at $150.4 billion in 2019.