WB downgrades inflation forecast in Ukraine by year-end

The World Bank (WB) has downgraded its inflation forecast in Ukraine to 20% by the end of this year, while the April forecast mentioned inflation at 15%, WB Regional Country Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerji said, Report informs referring to Ukrainian media.

He noted that the growth of inflationary pressure, in particular, is related to the necessity to cover budgetary needs in March-May.

“International partners have acknowledged the financial problems and have allocated about $20 billion to finance assistance to Ukraine. Despite these significant commitments, the timing of their repayment will continue to be critical to meet Ukraine’s current needs,” the WB regional director said.

At the same time, the financial institution left unchanged the forecast for a fall in Ukraine’s GDP this year at the level of 44%.