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The World Bank forecasts Ukraine’s GDP decline by 8% in 2014 and by 1% in 2015

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The World Bank has downgraded the forecast of the Ukraine’s GDP decline from 5% to 8% in 2014 and GDP growth from 2.5% by 1% in 2015, said World Bank Country Director for Ukraine, Belarus and Moldova Qimiao Fan at a press conference.

Thus, the forecasts were worsened in June.

Noteworthy, the World Bank worsened the forecast of the Ukraine’s GDP decline from 3% to 5% in June 2014 and GDP growth from 3% to 2.5% in 2015.

The World Bank predicts that inflation will increase in Ukraine from 15% to 19% in 2014, informed economist of the WB Office in Kyiv Anastasiya Holovach.

“We downgraded our expectations and believe that inflation will increase to 19% by the end of 2014. In H1 in 2015 inflation will slow down and will be at 10% by the end of the year,” she said.

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