the-world-bank-has-downgraded-its-forecast-for-ukraines-economic-growth-this-year

The World Bank has downgraded its forecast for Ukraine's economic growth this year

 • 33403 переглядiв

In 2024, Ukraine's economy can be expected to grow by 3.2%. UNN reports this with reference to a press release from the World Bank.

Details

The World Bank forecasts that Ukraine's economy will grow by 3.2% in 2024. For comparison, in October 2023, the World Bank forecasted that Ukraine's GDP would grow by 4.0% in 2024.

Ukraine's economic growth forecast for 2025 is 6.5%, which is the highest in the Europe and Central Asia region.

It is noted that in 2023, growth rates in Eastern Europe returned to a positive trend. In particular, in Ukraine, growth rates increased to 4.8% after a sharp decline in 2022 due to improved access to electricity, a bumper harvest, and additional government spending. However, Ukraine's production in 2023 remained 30% below the level before the Russian invasion.

Geopolitical risks in the region, including an escalation of the russian federation's invasion of Ukraine, are elevated and could materialize, exacerbating the already significant human and economic losses. Higher-than-expected inflation may keep monetary policy tightening in place for longer

- the World Bank predicts.

Recall

According to the World Bank, the global economy is on track for the worst half of the year for growth in 30 years. The World Bank's latest Global Economic Prospects report predicts that global growth will slow for the third consecutive year. In 2024, it will decline to 2.4% from 2.6% in 2023.

Anna Murashko

Economy

    Popular

    German Foreign Minister Burbock divorces after 17 years of marriage

     • 24287 переглядiв

    Ukrainian “Shchedryk” shines in Chanel's holiday campaign

     • 38455 переглядiв

    UAH 5 billion will be spent this year to pay Zelensky's “thousand”

     • 18316 переглядiв

    Billie Eilish is named Apple Music Artist of the Year

     • 79357 переглядiв

    News by theme

    The World Bank has downgraded its forecast for Ukraine's economic growth this year

     • 33403 переглядiв

    Ecuadorian President declares war on the mafia: riots break out in the country

     • 29312 переглядiв

    Two UAVs crashed on the territory of a military airfield in Russia at night - rosmedia

     • 34196 переглядiв

    Zelensky will pay a working visit to Lithuania today

     • 28208 переглядiв

    Due to bad weather, 523 settlements remain without electricity

     • 27586 переглядiв