As we informed earlier, the Ukrainian government decided to extend the quarantine in Ukraine to 24.4 and introduced a nationwide emergency. The European Business Association in Ukraine conducted a survey to measure businesses´ reaction to these measure.
The results show that 48% of member companies have already incurred 20-50 % revenue losses. 16% have made changes in employee salaries, and 14 % have cut staff. The survey indicates that the reaction to further measures will be more of the same: 23 % will reduce salaries, 17 % staff, and 6 % to close their business. 23 % of respondents did not have any plans for downsizing and 31 % will search for new niches for their business.
The current estimates tell that the quarantine measures will make a 4 % dent to the Ukrainian GDP.
