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Ukraine’s economy can grow 4% annually, - World Bank

Source : 112 Ukraine

The condition for GDP growth is the continuation of reforms and the reduction of geopolitical tensions in the region
08:06, 18 January 2018

Radio Liberty

The World Bank's Director for Ukraine, Belarus and Moldova Satu Kahkonen said that Ukraine's economy could grow by 4% a year, provided that the authorities continue reforms in key areas. She said this in the commentary on Radio Liberty.

"Growth by 4% per year is quite real for Ukraine, it has the potential for this, but this will not happen without reforms that should stimulate investment and productivity," she said.

The World Bank does not exclude that Ukraine will be able to reach this figure in 2019-2020. While in the prognosis for the current year, bank’s analysts expect that Ukraine's gross domestic product will grow by 3.5%, inflation will slow down to 7%, the budget deficit will decrease to 2.5% from GDP, and state debt will remain at about 85% from GDP.

Analysts consider that the factors that can affect Ukrainian economy in the coming years are not only the course of reforms but also geopolitical tensions in the region and the intensity of the Russian-Ukrainian armed conflict in the Donbas in particular.

Related: World Bank, Ukrainian government work on pension reform

As it was reported earlier the World Bank informed the Ukrainian authorities on the necessity to make the amendments to the presidential draft law on Anti-corruption court to satisfy all requirements and recommendations of the Venice Commission. The letter was addressed to Andry Paruby, the Speaker of the Ukrainian Parliament and Ihor Rainin, the Head of the Administration of the President. The copies of the document were sent to the prime minister, specialized ministers, and some officials.

The World Bank pointed seven main comments to the presidential draft law. Some of them duplicate the demands of the International Monetary Fund (IMF).

One of the claims of the World Bank concerns the jurisdiction of the Anti-corruption court should correspond to the jurisdiction of the National Anti-Corruption Bureau (NABU) and the Specialized Anti-corruption Prosecutor’s Office (SAP).

Related: Ukrainian government, World Bank agree on attraction of IFC to privatization of Ukrgazbank

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