As at the beginning of this year, the World Bank expects the Ukrainian economy to grow by 3.2% by the end of 2024, according to a press release from the World Bank.
The forecast indicates that Ukraine's GDP growth will be 2% in 2025, with a significant rise to 7% projected for 2026.
The bank explains that the likely slowdown in Ukraine's economic growth next year will be due to the substantial damage from Russia's invasion and significant disruptions in electricity supply.
"Countries in the Europe and Central Asia region have skillfully navigated recent shocks, including high inflation, the impacts of Russia's invasion of Ukraine, and weak expansion in the European Union, the region's key export market," said Antonella Bassani, World Bank Vice President for Europe and Central Asia.
According to her, for countries in the region to achieve greater productivity growth in the long term, it will be important to significantly improve the quality of both secondary and higher education, which is essential for strengthening human capital and fostering creativity.
