The introduction of quarantine due to the spread of coronavirus costed USD 53.5bn to Ukraine. In case Ukraine did not introduce quarantine, it would lose up USD 54bn. However, it became possible to save lives, Hromadske reports.
The President of the Kyiv School of Economics and the former Minister of Economic Development, Trade and Agriculture of Ukraine Tymofiy Mylovaniv said that Ukraine has saved during quarantine same amount as it lost due to quarantine (from an economic point of view). However, Ukraine saved human lives.
Kyiv School of Economics calculated economic losses on the basis of the concept of “average life” in Ukraine, which is USD 454,000, and data on quarantine’s harm made to the economy are based on mathematical models and forecasts by the government and the IMF.
Klitschko: Next stage of quarantine weakening in Kyiv begin on May 22.
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