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The World Bank has improved the outlook of the economy of Ukraine in the fall of 2014

The World Bank has improved the outlook of the economy of Ukraine in the fall of 2014

The World Bank expects slight improvement in the economic situation in Ukraine in the fourth quarter and for the year but offers new government as soon as possible to begin implementing the plan of economic reforms.

Over the year it is expected that Ukraine’s economy will show better results. The average decline in GDP during the first three quarters of 2014 was 3.6% the year will fall significantly but not as much as expected. The World Bank predicts 8% (year-end) but it probably will be less than the figure.

The government should as soon as possible to begin implementing the plan of economic reforms to keep the trend of economic growth.

In October the World Bank for the fourth time since the beginning of this year downgraded the outlook for the economy of Ukraine waiting for the fall of the country’s GDP by 8% in 2014 and by 1% in 2015. However, the World Bank expects the resumption of economic growth in Ukraine in the second half of 2015 and forecast GDP growth in 2016 to 3.5% in 2017 and 4%.

The International Monetary Fund predicts the level of economic decline for the year to 6.5%, the European Bank for Reconstruction and Development – 9%.

According to the National Bank of Ukraine, the decline in GDP in Ukraine in 2014 will amount to 7.5%, in 2015 – 4.3%.

Experts expect the fall of the economy of Ukraine for the year by 6.5% -7%. In this economic decline Donbass where the anti-terrorist operation is conducted is not less than 25%.

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