World Bank leaves Ukraine's GDP growth forecast at 3.8%

World Bank leaves Ukraine's GDP growth forecast at 3.8%

The World Bank has left its forecast for Ukraine's gross domestic product growth in 2021 at 3.8%, according to a World Bank report "Global Economic Prospects" for June 2021.

According to the organization's projections, Ukraine's GDP will grow by 3.1% each in 2022 and 2023.

According to the World Bank, the global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies.

"While there are welcome signs of global recovery, the pandemic continues to inflict poverty and inequality on people in developing countries around the world," said World Bank Group President David Malpass.

The World Bank in March improved its forecast for Ukraine's GDP growth in 2021 from 3% to 3.8%.

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