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%.
The World Bank anticipates Ukraine’s 2023 economic growth potential.
Ukraine $60M from the World Bank.