World Bank updated Ukraine’s economy forecast for 2020


Compared to previous forecasts, the World Bank achieved 7.2 percentage points this year, eroding expectations of GDP mobility in Ukraine.


The crisis related to coronovirus in Ukraine will decline by 3.5% in 2020, while the world economy in general will decline by 5.2%. Such an updated macro forecast issued by the World Bank.

“The depth of scarcity will depend on the duration of the health crisis, progress in implementing major expected reforms, and the ability to raise sufficient funds to meet critical payment needs,” the document states.

According to the World Bank forecast, the growth of the Ukrainian economy will resume at the rate of 3% next year. At the same time, the global economic recovery will be 4.2%.

By the way, compared to the previous forecast in January this year, the World Bank made Ukraine’s GDP mobility expectations worse by 7.2 percentage points this year.

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Recall, the Cabinet of Ministers has proposed to Verkhovna Rada to support the Novi Groshe program, which provides loans for micro, small and medium-sized businesses for $ 5 billion at low interest rates. The announcement was made by Prime Minister Dennis Shimgal at a government meeting on 3 June.

Read: The IMF approved a program for Ukraine: the amount of financing is designated

According to the content “Economic reality”


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