Kiev, April 7 (SocialNews.XYZ) The World Bank has lowered its estimate for Ukraine's GDP growth this year to 0.5 from 3.3 per cent estimated in January, state media reported.
The economic toll caused by the Russia-Ukraine war was the main factor behind the downgrade, the bank said in a report on Thursday.
According to it, the reopening of Ukraine's Black Sea ports and resumption of grain trade, as well as substantial donor support, will help support economic activity in Ukraine this year, the Interfax-Ukraine news agency reported.
The bank estimated the cost of Ukraine's post-war reconstruction and recovery at $411 billion, Xinhua news agency reported.
The World Bank projected that the Ukrainian economy will grow by 6.5 per cent in 2025 after rising 3.5 per cent in 2024.
In 2022, Ukraine's GDP suffered a record decline of 29.2 per cent, according to the bank.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz