World Bank forecasts Ukraine's GDP growth by 3.2% in 2024

The World Bank (WB) shared the information in its press release.

According to its estimates, Ukraine's GDP growth in 2023 was 4.8%.

"In Eastern Europe, growth returned to positive territory, with Ukraine experiencing a growth rate of 4.8 percent. Despite this positive trend, Ukraine's output in 2023 remained 30 percent below its pre-invasion level," the WB said in the statement.

At the same time, the bank expects the Ukrainian economy to grow by 3.2% this year and by 6.5% in 2025. This will be the highest figure for the Europe and Central Asia region.

"Geopolitical risks in the region, including an escalation of the Russian Federation’s invasion of Ukraine, are elevated and could materialize, worsening already heavy human and economic losses. Higher-than-anticipated inflation could keep monetary policies tighter for longer," the bank said.

• According to the World Bank, global economic growth rates have become lower than in previous decades due to the recovery of countries after the pandemic, which is burdened by high interest rates, sluggish trade and geopolitical tensions.