World Bank forecasts Ukraine's GDP to grow by 3.2% this year

The World Bank (WB) expects the Ukrainian economy will grow by 3.2% this year and by 6.5% in 2025.

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

According to the World Bank, Ukraine's GDP growth in 2023 reached 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 document reads.

However, the bank expects 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).

“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 document reads.

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