: :inin Kyiv (EET)

World Bank slashes war-torn Ukraine’s economic outlook

KIEV (AFP) – The World Bank sharply cut its outlook for war-torn Ukraine Wednesday, forecasting its economy will shrink by a massive 7.5 percent this year due to the conflict with pro-Russian separatists.The international lender lowered its 2015 economic outlook from its previous estimate of a 2.3 percent contraction.The new forecast is even grimmer than estimates by the Ukrainian government and IMF of a 5.5 percent decline in gross domestic product.Ukraines economic output had already fallen by 6.8 percent in 2014.After two years of recession, Ukraine has been brought close to economic and financial collapse by the past year of …read more

Source: Dunya TV

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