The World Bank came up with a fresh forecast for global economic growth. That of Ukraine could make up to 3.7 percent, while the global growth is also expected at the rate of 2.5 percent. These figures are mentioned in the document released on the Bank's website.
"Global economic growth is forecast to edge up to 2.5% in 2020 as investment and trade gradually recover from last year’s significant weakness but downward risks persist", reads the report.
In particular, the real GDP growth in Ukraine is expected to grow by 0.1 percent compared to that in 2019. The report also says that Ukraine is the largest economy in Eastern Europe. The preliminary agreements between Kyiv and the IMF, in which the sides agreed on the USD 5.5 billion loan for Ukraine, would assist its economic growth. In 2021 and 2022, the World Bank expects Ukraine's real GDP to be at a rate of 4.2 percent.
As for the developed economies, their growth will somewhat slow down. "Growth among advanced economies as a group is anticipated to slip to 1.4% in 2020 in part due to continued softness in manufacturing. Growth in emerging market and developing economies is expected to accelerate this year to 4.1%. This rebound is not broad-based; instead, it assumes improved performance of a small group of large economies, some of which are emerging from a period of substantial weakness. About a third of emerging market and developing economies are projected to decelerate this year due to weaker-than-expected exports and investment", the report says.