The world Bank has estimated the GDP decline of Ukraine

Всемирный банк озвучил прогноз по снижению ВВП Украины

The depth of the fall will depend on the duration of the crisis in health care, progress in implementing the major reforms expected and the ability to mobilize adequate financing to meet significant needs in payments.

The world Bank expects that in 2020 the Ukrainian economy will shrink by 3.5%, whereas the fall of the world economy will amount to 5.2%, as described in the updated macroeconomic forecast of the Bank.

“It is predicted that activity in Ukraine in 2020 will be reduced by 3.5%, but the depth of cut will depend on the duration of the crisis in health care, progress in implementing the major reforms expected and the ability to mobilize adequate financing to meet significant needs in payments,” – said in a macroeconomic forecast.

The Bank also predicts that in 2021, the Ukrainian economy will grow by 3%, while world – by 4.2%.

The international monetary Fund and the world Bank predict a fall in the world economy due to pandemic coronavirus, and caused by this global crisis.

The Cabinet of Ministers of Ukraine approved an updated macroeconomic forecast for the current year, under which it is expected the economic decline of 3.9%, inflation of 8.7% and the average rate of hryvnia at the level of 29.5 UAH/USD.

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