World Bank raised GDP growth forecast for Ukrainian economy in 2023 to 3.3%
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According to the recent World Bank Economic Update, SB has improved its forecast for the growth of Ukraine’s gross domestic product in 2023 from 2.1% to 3.3%.
Read also: Ukraine accelerates transition to food-based economy due to war
According to the report, the current year’s economic assessment has also improved. In June, the World Bank expected a fall of 45.1% this year. Now it is 35%. SB also forecasts Ukraine’s GDP growth for 2024 – 4.1%.At the same time, World Bank predicts “massive” poverty and social impacts of the war in the country.
Based on the global poverty line of $6.85 per person per day, poverty in Ukraine will grow from 5.5% in 2021 to 25% in 2022. Additionally, the report says there will be high downside risks if the war and energy security situations worsen.
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