Arab Today, arab today world bank ukraine economy to contract by 8 in 2014
Last Updated : GMT 05:33:20
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.

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
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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