World Bank: Ukraine’s economic growth could fall to 2% if IMF reviews not completed

World Bank: Ukraine’s economic growth could fall to 2% if IMF reviews not completed

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Ukrinform
Ukraine’s growth outlook depends on the pace of reforms and on reaching an agreement on the IMF program. Otherwise, the overall growth could fall below 2 percent in 2019.

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

“The growth outlook depends on the pace of reforms and on reaching an agreement on the IMF program. This is particularly true because global financing conditions have tightened significantly for emerging markets in recent months,” said Satu Kahkonen, World Bank Country Director for Belarus, Moldova and Ukraine.

An agreement with the IMF, swift implementation of recently approved reforms, and progress on the unfinished reform agenda would send a positive signal to investors, the World Bank experts believe.

“If this happens, economic growth is projected to be 3.3 percent in 2018 and 3.5 percent in 2019, before rising to 4 percent in 2020 once election related uncertainties subside,” Ukraine Economic Update reads.

By contrast, if reforms do not progress and IMF reviews are not completed, overall growth could fall below 2 percent in 2019 as investor confidence deteriorates, macroeconomic vulnerabilities intensify, and financing difficulties force a compression in domestic demand, the experts underscore.

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