The World Bank worsens its forecast for Ukrainian GDP.

After falling by 29.2% last year, the bank believes that Ukraine’s GDP will grow by only 0.5% in 2023 and by 3.5% next year. In January, the World Bank expected faster growth in the Ukrainian economy, by 3.3% and 4.1%, respectively.

The updated World Bank Economic Review notes that the operation of Ukrainian ports on the Black Sea, the resumption of grain trade, and significant support from donors will help maintain economic activity this year.

The Bank noted that, according to its estimates, the cost of Ukraine’s recovery has increased to $411B, which is more than twice the size of Ukraine’s pre-war economy in 2021.

At the same time, the World Bank has published a 2025 forecast for the first time, which foresees an acceleration of growth to 6.5%.