Ukraine should increase resilience to external factors – World Bank

The World Bank outlined this in its report on the economic growth in the Europe and Central Asia (ECA) region, which is available to Ukrinform.

“Ukraine remains highly vulnerable to external shocks and commodity price cycles due unfinished structural transformation of the economy. To increase resilience to external shocks Ukraine will need higher and more sustainable economic growth, supported by tradable and higher valueadded sectors. This will require significant capital investments and deeper integration into global value chains. To facilitate investments, it is critical to maintain the reform momentum, reduce macroeconomic risks and insure repayment of public external obligations,” reads the report.

According to the World Bank, Ukraine needs about $11 billion per year, which is 8% of GDP per year, to repay public debt and finance the fiscal deficit in 2019, 2020, and 2021. To raise the necessary financing, “it is critical to maintain the reform momentum and stay on track with completion of IMF reviews.”

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