Economy 2022-01-15T07:46:39+02:00
Ukrainian news
World Bank Forecasts Ukraine GDP To Grow 2% In 2017, 3% In 2018-2019

World Bank Forecasts Ukraine GDP To Grow 2% In 2017, 3% In 2018-2019

Ukraine, economy, World Bank, GDP, WB

The World Bank (WB) forecasts that Ukraine's gross domestic product will grow 2 percent in 2017 and 3 percent in 2018-2019.

Ukrainian News Agency has seen the WB review Global Economic Prospects.

"Ukraine grew by 1 percent in 2016, a broad-based recovery from the almost 10 percent contraction in 2015. This reflected an easing of the conflict in eastern Ukraine, along with the impact of significant reforms undertaken during 2014-15 to stabilize the economy and reduce large imbalances," it reads.

The Second Review of the International Monetary Fund (IMF) programme for Ukraine was approved in September 2016, which helped to release some previously committed donor funds.

Inflation has remained below 15 percent since April, and the exchange rate has stabilised since September, the report reads.

"Among oil importers, output in Ukraine, which returned to expansion in 2016, is expected to grow as the security situation improves and domestic economic reforms gain traction. Growth in 2017 is projected at 2 percent-unchanged from the June projection. While Ukraine made progress in reforming public finances, debt management, energy subsidies, and the banking system, efforts to address government ineffectiveness, privatization of state-owned enterprises, and pension reform have been delayed (IMF 2016j)," the WB said.

As Ukrainian News Agency earlier reported, the WB in September retained the forecast of Ukraine's GDP growth in 2017 at 2 percent at 8.5 percent inflation.

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