World Bank downgrades outlook for GDP growth in Ukraine in 2013
2012-06-14 14:40:55
The World Bank has downgraded its outlook for the growth of the Ukrainian economy in 2013 from 4% to 3.8%,
This is stated in a new World Bank report, entitled "Global Economic Prospects, June 2012," which has been published on the bank's website.
According to the report, the pace of economic growth in Ukraine is projected at 2.5% in 2012, 3.8% in 2013 and 4% in 2014.
World Bank experts suggest that the pace of growth in all developing countries in Europe and Central Asia will drop to 3.3% in 2012, and then they are expected to rise to 4.1% and 4.4% in 2013 and 2014 respectively, provided that the euro crisis will resolved by the end of 2012.
The document also states that a major deterioration of conditions in the Euro Area could reduce GDP in the region by 5 or more percent compared with the baseline. Even if the worst downside risk does not materialize, some of the region's vulnerabilities could be magnified by slow growth, and weak and volatile international capital conditions.
As UKRINFORM reported, the World Bank, in its March report, predicted growth in Ukraine's GDP in 2013 at 4%.