REUTERS
The World Bank has maintained its forecast for Ukraine's economic growth in 2016 at 1%, the Bank said in its Global Economic Prospects. Spillovers amid Weak Growth.
This figure is lower than the Ukrainian government's estimates and experts' forecast for the Ukrainian economy. In particular, the government expects GDP will grow by at least 2%, while experts project the highest growth rate at 2.9% for the current year.
World Bank analysts insist the country will be able to see growth of 2% no earlier than in 2017.
Overall, growth is projected to accelerate to 3% in the Europe and Central Asia region in 2016, "helped by a steadying of oil prices, a smaller contraction in Russia, and a recovery in Ukraine that is being underpinned by an IMF-supported stabilization program," the World Bank said in its flagship report.
Earlier, the World Bank downgraded its forecast for global growth in 2016 by 0.4 percentage points to 2.9%.