The World Bank anticipates Ukraine’s 2023 economic growth potential.

Wednesday, October 5, 2022
The World Bank anticipates Ukraine’s 2023 economic growth potential.

The World Bank has raised Ukraine’s GDP growth forecast in 2023 from 2.1% to 3.3%. According to the SB Economic Outlook report, the current year’s economic assessment has also improved. SB expected a drop of 45.1% in June but  the decrease was smaller than expected, at 35%. The report also provides a 4.1% GDP growth forecast for 2024. Based on the global poverty line of $6.85 per person per day, poverty in Ukraine is projected to increase from 5.5% in 2021 to 25% in 2022. In addition, downgrade risks are high if the war and energy security situation worsens. The World Bank also improved the recession estimate for Russia from 8.9% to 4.5% but lowered it for the next year from 2% to 3.6%.

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