Ukraine’s economy will fall by 3.5% in 2020 while the global economy by 5.3% – the World Bank

According to the World Bank’s Global Economic Prospects presented on June 9th, Ukraine’s due to coronavirus-related crisis economy will decline by 3.5% in 2020. It will start to recover with a 3% growth in 2021. At the same time, the Bank forecasts that the global economy will shrink by 5.3% in 2020 and will grow by 4% in 2021.

“The depth of the contraction will depend on the duration of the health crisis, progress on major pending reforms, and the ability to mobilize adequate financing to meet sizable repayment needs,” the World Bank said.

Based on Interfax Ukraine


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