World Bank cuts Ukraine GDP forecast to contract 15% in 2009
17 July 2009
The World Bank downgraded its forecast for Ukraine’s GDP contraction in 2009, from 4% to 15%, it said in a release. The World Bank also lowered its inflation forecast for Ukraine this year to 13.4% vs. 16.4% previously. The World Bank said it saw a gradual recovery in 2010, with GDP growth of 1.0% and inflation slowing further to 10.5%. Andrii Parkhomenko: We forecast Ukraine’s real GDP to decline 12.0% in 2009 and recover to 4.0% growth in 2010. We see CPI at 15.0% this year and 7.0% in 2010.
