REUTERS
The World Bank has worsened its GDP forecast for Ukraine in 2015, projecting a 12% decline, whereas its April forecast was a 7.5% decline, according to a posting on the website of the World Bank regarding the Second Programmatic Financial Sector Development Policy Loan.
The World Bank is expecting that inflation in Ukraine will accelerate from 40% to 50% in 2015.
At this, the World Bank forecasts that Ukraine's GDP in 2016 will rise by 1%, in 2017 it will grow by 2%, and in 2018 by 3%, with inflation slowing to 23.4% next year, and to 7% by 2018.
In addition, the World Bank expects that the foreign currency reserves of the National Bank of Ukraine will expand to $18.3 billion by the end of the year and will grow to $35.2 billion by the end of 2018.
As UNIAN reported earlier, Ukraine's GDP in the second quarter of 2015 declined by 14.6% year-over-year (at constant 2010 prices).
The Cabinet of Ministers is considering three scenarios for the development of Ukraine's economy in 2015, according to which the fall of the country's GDP is expected to range from 5.5% to 11.9%.
According to the forecasts of the International Monetary Fund and the European Bank for Reconstruction and Development, Ukraine's GDP in 2015 will drop by 9% in 2015.
Experts say stabilization of the Ukrainian economy and quarterly GDP growth are expected to be seen in the second quarter of 2015, while the entire economic dynamics in 2015 will be negative, with a decline projected at 7%-15%.