“Fall in oil prices on world markets is a negative factor for the Ukrainian economy” – expert

The fall in oil prices on world markets due to coronavirus is a negative factor for the Ukrainian economy. This was reported by political analyst Denys Gaievskyi.

He noted that after oil prices for iron ore raw materials, rolled metal products and agricultural products will decrease, which will create additional pressure on the hryvnia.

At the same time, under the influence of panic on global markets, the cost of loans for the state and corporate sectors will increase, and the exit of portfolio investors from the Ukrainian economy will also accelerate.

“The expected economic growth of 3.7% by the Cabinet of Ministers in 2020 looks like utopia – soon this indicator will inevitably be revised downward”, the expert commented.

Earlier it was reported that Hennadii Riabtsev, director of the special programs at STC Psychea, said that decrease in oil prices is not the fault of Russia and Saudi Arabia.

Tags: The Cabinet of Ministers, Naftogaz, contracts, oil, hydrocarbon production, tariffs, legislation, EU, The Minystry of Energy and Coal Mining, Top management, energy market, oil production, drilling, coronavirus, RF, foreign affairs, OPEC+, OPEC, negotiations, Ukraine, agreement, petroleum products, field, gasoline, Shmyhal

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