Arab Today, arab today world bank ukraine economy to contract by 8 in 2014
Last Updated : GMT 11:17:56
Arab Today, arab today
Arab Today, arab today

World Bank: Ukraine economy to contract by 8% in 2014

Arab Today, arab today

Arab Today, arab today World Bank: Ukraine economy to contract by 8% in 2014

A woman pays with Ukranian Hryvnia money as she shops in the main market
Kiev - AFP

 Ukraine's economy will contract by eight percent this year due to the eastern separatist uprising, the World Bank said on Thursday, downgrading an earlier forecast and forecasting further shrinkage in 2015.
"Disruption in economic activity in the east has resulted in a sharper GDP decline than we expected," said Qimiao Fan, the bank's director for Ukraine, Belarus and Moldova who presented the latest report in Kiev.
"There is no easy way out of the current crisis," Fan added, urging the Ukrainian government to continue with structural reforms to turn the situation around.
Provided these reforms, which include laws combatting corruption and streamlining bureaucracy, are pursued, gross domestic product will grow by three percent in 2016 and four percent in 2017, but after falling by another one percent in 2015, according to the bank.
The World Bank previously predicted this year's contraction at five percent in June, adding that the crisis and the unravelling sanctions against Russia are affecting the entire eastern European region.
Ukraine's economy, already in uninterrupted recession since 2012, has collapsed as Kiev has struggled to end a five-month insurgency by pro-Moscow rebels in its eastern industrial heartland.
Decline in ravaged Donetsk and Lugansk regions, parts of which have declared independence, are the biggest reasons for the decline, Fan said, adding that Crimea's annexation also had an effect.
The International Monetary Fund said last month that the country may need an extra $19 billion in emergency assistance if the conflict, which has killed over 3,200 people since April.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank ukraine economy to contract by 8 in 2014 Arab Today, arab today world bank ukraine economy to contract by 8 in 2014

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank ukraine economy to contract by 8 in 2014 Arab Today, arab today world bank ukraine economy to contract by 8 in 2014

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday