in ukraine more than 10% of small and medium-sized enterprises on the verge of bankruptcy

due to the coronavirus pandemic, more than 10% of small and medium-sized enterprises in ukraine were on the verge of bankruptcy. the government should provide assistance to entrepreneurs, said dafina gercheva, permanent representative of the united nations development program (undp) in ukraine, interfax-ukraine writes.

“support for small and medium-sized enterprises must continue. if we look at the private sector, in particular small and medium-sized businesses, more than 10% of these enterprises are already on the brink of bankruptcy and will soon go out of business, ”gercheva noted.

in her opinion, entrepreneurs need state support and financial incentives, then they can continue their work.

according to the undp permanent representative, it is important to create jobs during such a crisis.

“the unemployment rate is rising. since may, over four million people have been registered as unemployed. however, we believe that in fact this figure is higher, since the share of the shadow economy in ukraine is large, ”gercheva said. she added that experts estimate that by the end of this year, more than nine million people will be in financial difficulty.

dafina gercheva stressed that there is a very fine line between complying with the covid-19 response protocol (quarantine, restrictive measures), while ensuring the normal functioning of the economy.

“after all, a complete quarantine will harm the economy and the country as a whole more than protect the population. we need to find a balance, ”said the undp permanent representative.

she added that she was aware of the dissatisfaction with the situation and the actions of the government of small and medium-sized enterprises.

gercheva noted the importance of compliance with all epidemiological measures - wearing protective masks, maintaining social distance, etc.

"even if the enterprises are not closed, it is still difficult for them to work in such conditions," the un development program resident said.

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