World Bank Forecasts Ukraine's GDP To Grow By 3.2% This Year

2024-10-17 06:05:06

(MENAFN- UkrinForm) The World Bank (WB) expects the Ukrainian economy will grow by 3.2% this year and by 6.5% in 2025.

This is said in a press release issued by the bank, Ukrinform reports.

According to the World Bank, Ukraine's GDP growth in 2023 reached 4.8%.

“In Eastern Europe, growth returned to positive territory, with Ukraine experiencing a growth rate of 4.8 percent. Despite this positive trend, Ukraine's output in 2023 remained 30 percent below its pre-invasion level,” the document reads.

However, the bank expects the Ukrainian economy will grow by 3.2% this year and by 6.5% in 2025 (the highest figure for the Europe and Central Asia region).

Read also: Ukraine's international reserves decrease by 8% in September - NBU

“Geopolitical risks in the region, including an escalation of the Russian Federation's invasion of Ukraine, are elevated and could materialize, worsening already heavy human and economic losses. Higher-than-anticipated inflation could keep monetary policies tighter for longer,” the document reads.

As Ukrinform reported, Ukraine received $1.34 billion as the sixth additional financing under the World Bank's Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project.

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