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World Bank sees Ukraine's 2015 GDP up 3% after reforms

Friday, 4 April 2014 - 3:14pm IST | Agency: Reuters

Ukraine's economy could grow by 3 percent in 2015 if the government stabilises its shaky public finances and undertakes structural reforms, World Bank analyst Anastasia Holovach said on Friday.

The International Monetary Fund and developed countries have pledged multi-billion dollar aid packages, tied to economic reforms, aimed at helping Ukraine bring its financial system in order and provide a foundation for growth.

"If the measures are taken to provide macroeconomic stabilisation together with structural reforms, GDP will grow 3 percent in 2015," Holovach told a news conference in Kiev.

She forecast inflation of 15 percent this year, falling to 10 percent in 2015 but warned that any slowdown in the implementation of reforms could lead to further depletion of currency reserves.

Ukraine's economy is expected to contract 3 percent this year as the country reels from political unrest and a confrontation with powerful neighbour Russia, which annexed Ukraine's Crimea region in March.

(Reporting by Natalia Zinets; Writing by Alessandra Prentice; Editing by Catherine Evans)

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