
‘Are You Waiting for Putin?’ Conflict occurred in Odessa between representatives of the territorial recruitment center and a Ukrainian woman who stood up for a young man
January 10, 2024
‘The military commissioners are already in Warsaw!’ Videos from the capital of Poland are circulating on social media
January 10, 2024Due to the war, the World Bank has revised its economic growth forecast for Ukraine in 2024, reducing it to 3.2%. In October of the previous year, the bank anticipated the country’s GDP to increase by 4.0%.
This information comes from the World Bank’s report on the global economy.
“The prospects for Ukraine remain highly uncertain. It is forecasted that growth will reach 3.2% in 2024 and 6.5% in 2025,” the report states.
They anticipate that the war will continue throughout 2024, and key factors, including agricultural crop yields will be compensated for.
“Partial resolution of uncertainty in 2025 will contribute to the resumption of exports and a gradual increase in reconstruction investments,” the statement continues.
According to the World Bank, Ukraine’s GDP growth rates increased by approximately 4.8% in 2023 after a sharp decline in the previous year. Nonetheless, the production volume in 2023 remained roughly 30% below the pre-invasion level.
“The growth was supported by improved access to electricity, higher crop yields and additional government spending, albeit at the expense of increased budget and current account deficits,” they added.
The bank notes that while the cessation of the Black Sea Grain initiative in July 2023 continues to pressure grain exports, “Ukraine successfully found alternative grain export routes that supported this sector.