World Bank retained its forecast for Ukraine at 2% for the current year.

The experts reported the “distinct growth” of Ukraine’s GDP in 2016.

The World Bank worsened the Ukraine’s GDP growth forecast in 2018 - from 3% to 3.5%, and in 2018 – from 3% to 4% versus its estimates, provided in this January, Correspondent.net reports.

“In Ukraine, the governmental stabilization efforts, supported by international financial institutions, and a very good harvest led to the distinctive growth in 2.3% in 2016 after the cumulative decline by 15.8% in 2014-2015 as the result of the geopolitical tension with Russia”, - according to WB report “Global economic prospects: A Fragile Recovery”.

The Bank indicates that it improved GDP growth estimate in 2016 from 1% to 2.3%, retaining the forecast at 2% for the current year.

The World Bank indicated in the report that in general, the currencies of the countries – raw materials exporters, into which he included Ukraine,   strengthened, and the inflation went down. The prices for raw materials stabilized, and the trust increased that allowed softening the monetary policy, as the bank explains, indicating Ukraine as the example.

WB said that the dramatic worsening of household balances was among the factors, keeping down the growth of such countries, as Ukraine, Kazakhstan, Brazil, Russia. The Bank also indicated the transport blockade of uncontrolled territories of Donbass, which led to the weak data of industrial production.

As Correspondent.net reported, previously, the World Bank criticized Ukraine’s economy. As World Bank Country Director for Belarus, Moldova, and Ukraine Satu Kahkoken said, Kyiv needs to implement the pension, land, medicine and anti-corruption reforms for the economic growth.