The World Bank said what would raise Ukraine's economy

Submitted by bashun on Wed, 03/21/2018 - 12:00

Head of the World Bank (WB) representation in Belarus, Moldova and Ukraine Satu Kakhkonen believes that Ukraine's economy can grow due to deferred growth.

She said this in an interview with NV.

"One of the areas that can seriously contribute to growth is agriculture. You were called the breadbasket of Europe, but the potential of your agriculture has not been realized, primarily because of the lack of a land market." Of course, it is also necessary to make investors believe in the country. This is also true of the World Bank: the market is necessary for us to start investing in agriculture: transport infrastructure, irrigation and the like, " says Kakhkonen.

According to her, due to the crisis of 2014-2015, the country's GDP has significantly decreased. Now the economy has recovered, but economic growth is still modest, at 2%. This, in her opinion, means that the income level of the population has not yet returned to the pre-crisis level.

"The country has the potential to grow faster than the global economy, but only if the reforms continue," she adds.

It bears reminding that in September 2017, the World Bank announced that they do not see significant increases in the economic sectors. The WB added that the current growth of the economy is not enough to increase the incomes of citizens.

Already at the beginning of this year, WB Vice President Cyril Muller also stated that the growth of the Ukrainian economy, which is now in Ukraine, is not enough.

 

English

Read more