Ukraine needs $100 billion of investment by 2015

10:00, 23 October 2006
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According to the analysis made by WB bank`s experts

The World Bank thinks it is necessary to invest $100 billion in development of Ukraine for the period ending in 2015, according to The Ukrainian Times.

According to the analysis made by bank`s experts, power engineering, transportation and agriculture require some $30 billion, $5 billion and $9 billion respectively.

At the same time, the World Bank believes Ukraine should increase the national debt with great caution lest private investments are ousted from the country and macroeconomic tension created.

To accelerate the economic development of Ukraine, the World Bank recommends reducing ineffective expenses of subsidies and the transfers,which are made beside the purpose, as well as reforming a tax system and the system of social protection.

According to forecasts by the World Bank, growth of GDP will amount to 4.5% in Ukraine next year.         

    

This news was monitored by the ArtUkraine Monitoring Service for the Action Ukraine Report.

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