The World Bank predicts economic recovery in Ukraine / Photo: hron.com.ua
The World Bank predicts economic growth in Ukraine in 2016 by 1% following a 12% reduction in 2015, with a 2% growth forecast for 2017, according to BBC Ukraine.
“Economic activity in Russia is projected to contract by 0.7% in 2016 after shrinking by 3.8% in the year just ended,” according to BBC Ukraine citing the Wednesday’s report by the World Bank presented in Washington.
In general, the World Bank lowered its growth forecasts for the world economy in 2016 to 2.9%. Earlier, in June of last year, the organization's experts forecast a global economic growth of 3.3% in 2016.
Read alsoUkraine's economy set to growThe World Bank estimates the last year's global economic growth at 2.4%.
“There is greater divergence in performance among emerging economies. Compared to six months ago, risks have increased, particularly those associated with the possibility of a disorderly slowdown in a major emerging economy,” said World Bank Group Vice President and Chief Economist Kaushik Basu, referring to China’s economy.