Kyiv, July 19 (Interfax-Ukraine) – The World Bank has downgraded its forecast for Ukraine’s GDP growth in 2012 to 2%, down from 2.5%, Senior Economist of the World Bank Representative in Ukraine Ruslan Piontkovsky said at a press conference on Thursday.
World Bank Country Director for Ukraine, Belarus and Moldova Qimiao Fan, in turn, noted that Ukraine is highly dependent on the economic situation in the European zone.
“The crisis in the European zone is a very great danger for Ukraine,” he said.
However, he noted that the acceleration of implementing structural reforms could speed up the economic development of the country.
According to a bank press release, the forecast for Ukraine’s GDP growth in 2013 was downgraded to 3.5% from 4%. Regarding inflation, the World Bank improved the estimation of price dynamics in the current year to 6.1% from 9.4%, whereas in 2013 it downgraded the figure to 9.5% from 7.4%. The World Bank estimates inflation in 2014 at 5.9%, whereas previously the figure was 7.1%.
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