The World Bank for the first time published a forecast for the GDP of Ukraine for 2025, assuming an acceleration of growth to 6.5%.
The gross domestic product (GDP) will grow by 0.5% this year, and by 3.5% in 2024. This forecast was published by the World Bank, Interfax-Ukraine reports on Thursday, April 6.
At the same time, in January, the World Bank expected faster growth of Ukraine’s GDP – by 3.3% in 2023 and by 4.1% in 2024.
“While the economic damage suffered by Ukraine as a result of the invasion is enormous, the unblocking of Ukrainian ports on the Black Sea, the resumption of grain trade, as well as significant donor support help maintain economic activity this year,” the WB analysis said.
The bank recalled that according to the latest estimates, the cost of Ukraine’s recovery has risen to $411 billion, more than double the size of Ukraine’s pre-war economy by 2021.
Also, the World Bank for the first time published a forecast for Ukraine’s GDP for 2025, assuming an acceleration of growth to 6.5%.
Earlier, the IMF estimated the dynamics of Ukraine’s GDP this year from “minus” 3% to “plus” 1%, and next year it is expected to grow by 3.2%.
In January, the National Bank lowered its GDP estimate to 0.3% in 2023, but at the end of March announced a high probability of its change, including at least 1% due to a better than expected energy supply situation.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.