Aside from employment security, Ukraine had seen constant growth in year-on-year comparisons of its GDP from 2016-2020, averaging 2.8% growth per quarter.
Respectively, Ukraine’s employment rate topped 69% at the end of 2019, the highest it has reached in more than 25 years. Ukraine Before COVID-19Īt the end of 2019, Ukraine was well on its way to creating stable economic infrastructure with its unemployment rate reaching a five-year low of 7.3%. In response, the Ukrainian government is taking action to boost domestic economic value while the World Bank is offering loans to help eliminate the harsh effects of the pandemic on Ukraine’s impoverished. In the east, the impact of COVID-19 on poverty in Ukraine could reverse multiple years of joint efforts for the country to gain economic stability.
As lockdowns extend and new variants claim dominance, countries are finding it challenging to fight poverty. The COVID-19 pandemic has proven to be a global risk on many fronts other than health.
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