Ukraine's GDP to grow by 3.2% in 2024 - World Bank

The Ukrainian economy is expected to grow by 3.2% in 2024 and by 6.5% in 2025.

This is said in a press release issued by the World Bank, Ukrinform reports.

According to the World Bank estimates, Ukraine's GDP growth in 2023 was at the level of 4.8%.

“In Eastern Europe, growth returned to positive territory, with Ukraine experiencing a growth rate of 4.8 percent. Despite this positive trend, Ukraine's output in 2023 remained 30 percent below its pre-invasion level,” the World Bank said.

However, the bank expects that the Ukrainian economy will grow by 3.2% this year and by 6.5% in 2025 (the highest figure for the Europe and Central Asia region).

Read also: Inflation in Ukraine down from 26% to 5% last year – NBU

“Geopolitical risks in the region, including an escalation of the Russian Federation’s invasion of Ukraine, are elevated and could materialize, worsening already heavy human and economic losses. Higher-than-anticipated inflation could keep monetary policies tighter for longer,” the World Bank said.

As reported by Ukrinform, Ukraine received $1.34 billion as the sixth additional financing under the World Bank's Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine) project.