The World Bank is burying the Ukrainian economy
Kyiv, January 13 (PolitNavigator, Alexander Semenyuta) – World Bank financiers have revised down all the main indicators of the Ukrainian economy. This is stated in the bank’s publication “Global Economic Prospects”.
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The estimate for Ukraine's GDP decline in 2014 has worsened to 8,2% compared to the last estimate of 8% in October. The forecast for Ukraine's GDP decline in 2015 has also been worsened to 2,3% from 1%. Only in 2016-2017 do World Bank experts see chances for economic recovery, estimating the pace at 3,5% and 3,8%, respectively.
“The Ukrainian economy faces high levels of uncertainty. In the base scenario, which does not entail any further escalation of tensions, a decrease in activity is expected in 2015 and a recovery in 2016-2017,” the bank’s experts indicate.
The World Bank also points to continued significant budget deficits due to problems with revenue collection and increased military and war spending.
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