UN: Ukraine’s economy faces severe recession

The coronavirus pandemic could trigger Ukraine’s economy worst recession in a decade. It can plunge nine million Ukrainians into poverty. According to the UN, in 40% of families one family member lost his job. 80% of households lost income, according to a UN report for October.

Separately, the UN assessed the situation in the temporarily occupied territories of Donbas. In ORDLO, 58% of families reported using negative adjustment mechanisms to meet their needs. At the beginning of 2020, there were 49% of such families.

Since the beginning of the year, in the territories of Donbas occupied by the Russian Federation, the share of households with debts has increased from 11% to 15%.

“The socio-economic consequences of this decline for the region are likely to be devastating,” the UN report says.