The European Bank for Reconstruction and Development (EBRD) has worsened its forecast for Ukraine’s gross domestic product (GDP) growth to 2.5% from 3% projected in 2019.
According to the EBRD’s regional economic outlook, Ukraine’s economy is expected to grow by 3% in 2020.
According to Bank estimates, Ukraine’s GDP growth accelerated to 3.3% in 2018 amid strong domestic consumption.
The expected slowdown in growth in 2019, the EBRD explains by the slowdown in growth of Ukraine’s major trading partners and political uncertainty during the period of double elections.
At the same time, the Bank predicts an acceleration of growth in 2020 with the intensification of the post-election reform program in conjunction with the easing of monetary policy.
“In connection with the large payments on foreign debt in 2019-2020, there is a significant risk of fall, therefore cooperation with official creditors remains vital for continued economic recovery,” the EBRD stressed.
As The Journalist reported, EBRD will help to implement more than 150 business projects in Ukraine.
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