Half of Ukrainian business posted 20-50% loss over quarantine — EBA survey

26 March 2020, 10:38

220

Nearly half of the companies (48%) have already incurred 20% to 50% of revenue losses as a result of quarantine introduction in Ukraine on Mar. 16, the results of a survey conducted earlier this week by the European Business Association (EBA) show.

Since the quarantine was introduced in the country, 16% of companies have decided to change their staff salaries and 14% have made personnel cuts.

As provided by the survey data, the measures planned by the business to be introduced after the quarantine extension for another month till Apr. 24 and a declared state of emergency in the country include:

reduction in wages — 23% of companies;
personnel cuts — 17%;
closing down — 6%.

23% of companies do not plan any reduction or downsizing, and 31% will search for new niches to develop their business.

Previously reported that within the period of Mar. 1 till Apr. 30, 2020, no payment for land (land tax and rent payment for the lands of state and municipal property) is charged or paid for the land plots owned or used, including on the lease terms, by individuals or legal entities and used by them in their economic activity.