World Bank sees Ukraine's GDP up 3%

Comment on this story
CrimeaMuralUkraineRussia Reuters. A man passes a mural showing a map of Crimea in the Russian national colours on a street in Moscow March 25, 2014. The map shows the location of the city Sevastopol.

Kiev - Ukraine's economy could grow by 3 percent in 2015 if the government stabilises its shaky public finances and undertakes structural reforms, World Bank analyst Anastasia Holovach said on Friday.

The International Monetary Fund and developed countries have pledged multi-billion dollar aid packages, tied to economic reforms, aimed at helping Ukraine bring its financial system in order and provide a foundation for growth.

“If the measures are taken to provide macroeconomic stabilisation together with structural reforms, GDP will grow 3 percent in 2015,” Holovach told a news conference in Kiev.

She forecast inflation of 15 percent this year, falling to 10 percent in 2015 but warned that any slowdown in the implementation of reforms could lead to further depletion of currency reserves.

Ukraine's economy is expected to contract 3 percent this year as the country reels from political unrest and a confrontation with powerful neighbour Russia, which annexed Ukraine's Crimea region in March. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines