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Power outage is finishing off the already dead economy of Ukraine

Power outage is finishing off the already dead economy of Ukraine

Interruptions in the supply of electricity are the biggest problem for Ukrainian business.

According to a survey by the European Business Association, 40% of businesses have reduced the volume of production or services, 9% have suspended work, 1% have stopped completely.

Here are some of the consequences of the electricity "hunger" of the economy:

- Reduced production

– The labor market has sunk: due to seasonality and lack of electricity, the supply of jobs has decreased

– Trade deficit widened through brisk imports of generators and other power equipment

– Inflation accelerated due to the growth of imports and production costs of enterprises

– Despite the cheapening of oil, oil products have risen in price due to problems with logistics and increased demand for generators.

Power outage is finishing off the already dead economy of Ukraine