World Bank: Ukraine must accelerate reforms; otherwise Ukrainians will reach the level of the Germans only in 100 years

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The World Bank (WB) urges Ukraine not to postpone reforms to accelerate economic growth, since at its current pace it may take from 50 to 100 years to achieve the level of income of European countries.

This is stated in WB study on the economic development of Ukraine, reports Unian.

“With the current economic growth rates, which are barely more than 3% per year, Ukraine will need almost 100 years to reach the current level of German income,” the study says.
According to WB, it may take less than 50 years for our country to reach its current income level in Poland.
These indicators are calculated on the basis of the number of years needed to bridge the gap between GDP per capita in Ukraine and these countries.
In the list of problems whose solution will help accelerate economic growth, the World Bank highlighted the increase in economic productivity, the expansion of foreign trade opportunities and the strengthening of economic institutions.

As reported by "Journalist", Ukrainians in Poland make up the majority among foreigners who have a residence permit.