Against the background of the ongoing adventure, economic growth in Ukraine slowed down 2024 to 2.9% from 5.5% in 2023.
According to the World Bank forecasts for the European region and Central Asia, economic growth in Ukraine will be slow for two years. The economy will only accelerate by 2026 subject to the end of the war.
It was noted that against the background of the ongoing adventure, the economic growth in Ukraine slowed down 2024 to 2.9% from 5.5% in 2023.
“The reduction of external demand, the lack of labor and additional disruptions in providing electricity due to the war are among the major factors in the reduction in growth,” the report said.
It is expected that in Ukraine the growth has slowed even up to 2% this year before rising to 5.2% in 2026, “given that military operations will end and recovery will begin.”
The World Bank also predicts that the growth in economies developing in Europe and Central Asia is significantly slow to 2.5% on average to 2025-26 in conditions of deep uncertainty worldwide. In 2023, growth reached 3.7%, at 2024 – 3.6%.
Keep in mind that Ukraine’s debt to the World Bank Group for 2024 rose by 65% to $ 22.6 billion.
As reported, the World Bank approved additional funding for Ukraine for $ 664 million.
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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.