KYIV, Feb 2 – The Business Outlook Index (BOI), calculated by the National Bank of Ukraine (NBU), in January hit a low not seen over the last 12 months – 40.5 from 48.6 in December, and continued to fall below the neutral level, as testify to the results of a survey of enterprises conducted by the central bank released on Tuesday.

"The expectations of all of the surveyed sectors were affected by weaker business activity, which is usually the case at the start of a year, coupled with additional factors, such as a worsening in the coronavirus situation, higher energy prices, and a greater probability of an escalation of the armed conflict," the National Bank said, commenting on the results of the January survey.