KYIV, Aug 7 – Ukraine’s economy contracted 11% on the year in the second quarter during the coronavirus lockdown, which is better than 14% contraction that had been originally expected, the Economy Ministry reported Friday.

In the first half of the year, the economy shrunk 6.5% on the year, the ministry said.

"The monthly dynamics of economic activities indicates that the economy has passed the peak and has overcome the threshold of the maximum negative effect from tough anti-epidemic measures both inside the country and abroad, which was most felt in April-May 2020. And so far, against the background of easing quarantine, it gradually begins to recover," the Ministry of Economy notes in its review of economic activity for the first half of 2020.