World Bank keeps forecast of Ukraine’s GDP growth at 2.7%

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The World Bank has kept unchanged the forecast of Ukraine’s GDP growth at 2.7% in 2019. The World Bank Country Director for Belarus, Moldova, and Ukraine, Satu Kahkonen, stated this at a press conference, according to an Ukrinform.

At the same time, she noted that the current year would be quite difficult for Ukraine due to investors’ uncertainty because of elections. In addition, Ukraine may face challenges of attracting external financing.

According to Kahkonen, to continue the trend of successful economic growth, Ukraine should lift the moratorium on the sale of agricultural land, solve the issue of troubled loans in state-owned banks and continue the fight against corruption.

As reported, the National Bank projected that Ukraine’s GDP in 2019 would grow by 2.5%, the IMF and the World Bank projected the growth by 2.7%, and the Cabinet of Ministers – by 3.0%. Ukraine defense sector is to get 5% GDP this year.

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