Eurasia Business News – October 4, 2017

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Kiev, Ukraine – Source : pixabay

The World Bank predicts a 2% GDP growth in Ukraine in 2017, but believes that this is not enough to improve the standard of living in the country.

This was announced on Tuesday during a press conference by the World Bank Country Director for Belarus, Moldova, and Ukraine Satu Kahkonen, reported the news agency Ukrinform.

We forecast an economic growth by 2% in 2017” said Satu Kahkonen.

The Country Director added that this is not enough to reduce the poverty in the country and stressed that urgent reforms are needed in order to enable Ukraine to achieve 4% GDP growth.

The World Bank sees the risk that Ukraine could get trapped into the low pace of growth, said Satu Kahkonen.

In addition, the international institution considers that the deficit of Ukraine’s national budget in 2017 projected at 3.5%.

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