KYIV, June 23 – The contraction of Ukraine's economy in 2020 may be deeper than recently forecast by the National Bank of Ukraine (NBU) and may exceed 5%, the NBU reported.

"The available data indicate that the fall following the results of the year is likely to be deeper than expected in the forecast published in the Inflation Report for April 2020," the report said.

It is noted that in the second quarter of 2020, the decline in real GDP is expected to deepen after a 1.3% fall in the first quarter, mainly due to quarantine measures throughout the quarter.