How will the economy of the region react to the consequences of the pandemic? Will the regional budget outstay additional strain? Sergii Chernov, Chairman of Kharkiv Regional Council, answered these questions from mass-media after the work of an Anti-Crisis Headquarter in Kharkiv region on combating coronavirus.

In particular, the Chairman of the Regional Council stressed that it is very difficult to predict economic consequences from the pandemic as of now. “We will undoubtedly incur losses, economists believe there will be a decrease in gross domestic product at the level of 3-5 percent, even more. Needless to say, in times of the pandemic, first and foremost, we must take care of people’s health. At the same time, it is also important to develop mechanisms of economic protection and support of small, medium and large businesses so that they could resume their work and fill budgets with taxes”.

Great load falls on the regional budget, so, according to Sergii Chernov, priorities will be changed and funds will be redistributed to overriding needs. 

 “Still we hope that the government will help and declared intentions will be supported with particular resources. However considerable number of the areas of focus and measures, which should be provided by the government, are now financed by the local self-government authorities. Many delegated powers are not provided by the government, in particular, transportation of benefit holders, second stage of medical reform.

At the last session of the Regional Council, 600,000,000.00 hryvnias was additionally released from the regional budget, since the government did not provide our medical institutions with necessary funding. There is a limit to everything, we are in a critical state so we will change priorities upon which we will redistribute funds.  We must weather the storm for small and medium business, which are the most influenced because it is mostly service business, to keep their potential and quickly restore work,” the Chairman of the Regional Council explained.

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