World Bank Improves Economic Outlook for Ukraine

The World Bank (WB) forecasts that Ukraine’s GDP will grow by 3.1% in 2021, while in October 2020 it predicted only 1.5% growth, according to the World Bank’s Global Economic Prospects.

At the same time, WB analysts noted that the Ukrainian economy fell by 5.5% in 2020.

As a reminder, in the summer the World Bank forecasted that Ukraine’s economy will grow by 3%, and the global economy – by 4,2% in 2021. However, in the October review, the World Bank downgraded Ukraine’s GDP growth forecast for 2021 to +1.5%.

In turn, the Ministry of Economic Development believes that the drop in Ukraine’s GDP in January-March 2021 may reach 3% and the economic growth will begin in April.

Natalia Tolub