World Bank identifies three factors of Ukraine’s economic growth

World Bank identifies three factors of Ukraine’s economic growth

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Ukrinform
Economic growth in Ukraine picked up to 3.5 percent in the first half of 2018 supported by an early agriculture harvest, increase in domestic consumption due to higher wages and pensions and remittances.

This is indicated in the World Bank’s Ukraine Economic Update as of October 4, 2018.

According to the World Bank, Ukraine’s economic growth in the first half of 2018 picked up to 3.5% due to the early agriculture harvest and increase in domestic consumption, which occurred due higher wages and pensions. An additional factor was remittances due to increased labor migration to neighboring EU countries.

At the same time, the investor confidence in Ukraine is held back by delays in implementing key reforms and completing reviews of the IMF program.

“Investor confidence has been weighed down by delays in implementing key reforms and completing IMF reviews, as well as uncertainty related to the elections,” the report reads.

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