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World Bank worsens forecast of Ukraine's economic decline to 7.5%
29.04.2015 14:19 "Agro Perspectiva" (Kyiv) —
The World Bank has worsened its forecast of the Ukrainian economy decline in 2015 to 7.5%, against the 2.3% it projected in Jan, with the GDP decline estimated at 6.8% in 2014, UNIAN says referring to the
World Bank Country Director for Ukraine, Belarus and Moldova Qimiao Fan report within the presentation of a new economic review and macroeconomic forecast for Ukraine at the World Bank representative office in Kyiv.
As to the report, the conflict in the east of Ukraine is a very negative factor impacting the country’s industrial export potential and consumer sentiment Ukrainians.
«Because of the conflict in the east, to a large extent, we are forecasting that the decline in GDP will accelerate to 7.5% in 2015, compared to a 6.8% drop in 2014,» said Fan.
He also admitted that the gradual recovery of the Ukrainian economy in the future was subject to a possible end to the conflict in the east, as well as the Ukrainian authorities continuing the implementation of structural and macroeconomic reforms.
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