The World Bank upgrades its growth forecast for Ukraine

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A World Bank report released in mid-October for Ukraine raised the GDP forecast for 2019 from 2.7% to 3.4%, with the growth rate set to accelerate to 3.7% in 2020 before reaching 4.2% in 2021, Business Ukraine reports.

This upgrade comes after Ukraine posted a 4.6% year-on-year GDP increase during the second quarter of the current year, comfortably surpassing expectations.

The World Bank is the latest international organization to improve its outlook on Ukraine. The IMF recently revised its Ukrainian GDP growth forecast for 2019 upwards from 2.7% to 3%, while Morgan Stanley upgraded its GDP expectations for the country to 3.2% in 2020 and 3.6% in 2021.

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