KYIV, April 29 – Ukraine’s economy will probably shrink 2% on the year in 2020 instead of growing 3.2% forecast earlier due to the coronavirus pandemic in the country, Alfa-Bank said.

According to the forecast, the bank expects the economic contraction in the "most difficult" second quarter to reach 7%.

It is predicted that the contraction will continue in the third quarter (by about 2.8%), giving way to a slight increase in the fourth quarter (by 1.5%). According to the experts, the economy will be able to fully recover from the shock received only in 2021.