The World Bank notes the first signs of the stabilization of the Ukrainian economy
The World Bank has noted the first signs of the stabilization of the Ukrainian economy. As the World Bank Country Director for Ukraine, Belarus and Moldova, Qimiao Fan, stated on the 1st of April, the World Bank forecasts that the GDP of the country can grow by 1% in 2016 and 2% in 2017. In addition, the World Bank has estimated that inflation in the country will amount to 15% in 2016 and 11% in 2017.
According to the representative of the World Bank, the reforms implemented by Kiev are crucial for the achievement of sustainable recovery and growth from 2016 forward. Qimiao Fan noted that the slowdown or complete cessation of reforms will jeopardize the recovery of the economy and lead to negative social consequences.
In 2014, the GDP of Ukraine decreased by 6.8 % and in 2015 it decreased by almost 10%. The prices of goods and services have grown by 43.3 %, while the real income of the population fell by 22.2%. The last time the Ukrainian economy had positive growth was 2012.