2023-06-08T10:19:00+03:00 Politics 2023-09-15T04:12:19+03:00

Ukrainian news

Ukrainian news

World Bank worsens forecast for Ukraine's GDP growth in 2023

World Bank worsens forecast for Ukraine's GDP growth in 2023

The World Bank worsened the forecast of Ukraine's GDP growth in 2023 from 3.3% to 2%.

This follows from a statement by the World Bank Global Economic Prospects, the Ukrainian News agency reports.

The deterioration of the forecast was primarily due to the economic turmoil caused by the destruction of the energy infrastructure due to the Russian invasion.

At the same time, public finances are under pressure, despite external support, including USD 15.6 billion in IMF funding.

The World Bank notes that Ukraine's reconstruction and restoration costs may exceed Ukraine's GDP by 2.6 times.

As the Ukrainian News agency earlier reported, in April, the National Bank improved the GDP growth forecast from 0.3% to 2% in 2023.

The reduction of security risks from next year, which is assumed in the base scenario of the National Bank of Ukraine forecast, will contribute to the acceleration of economic growth - up to 4.3% in 2024 and up to 6.4% in 2025.