World Bank improves forecast for Ukraine's GDP growth for next two years

This is stated in the World Bank’s report “Competition and Firm Recovery Post-Covid-19. Europe and Central Asia Economic Update. Fall 2021”.

According to the organization's forecasts, Ukraine's GDP will grow by 3.5% in 2022 and by 3.7% in 2023.

“Activity should continue recovering in H2 2021, helped by better harvests, strengthening consumer demand, and a supportive external environment,” reads the document.

As noted, the forecast takes into account the possibility of further temporary COVID-19 lockdowns.

In June, the World Bank left the forecast for Ukraine's gross domestic product growth in 2021 at 3.8%.

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