WB called Ukraine the poorest in the region

ВБ назвал Украину беднейшей в регионе

The poverty level in the country is still higher than it was before the crisis 2014-2015.

In terms of GDP per capita in Ukraine remains one of the poorest countries in the region, according to a world Bank report.

It is noted that according to this indicator the country is on the level of Moldova, Armenia and Georgia. The poverty level in the country is still higher than it was before the crisis 2014-2015.

The rate of poverty reduction is too low, so that citizens could reach the level of income in neighboring European countries.

During the crisis, Ukraine’s economy declined by 16 percent. In 2016-2017 the growth rose to 2.4 per cent, and in 2018 – to 3.3 percent.

As noted in the report, to reduce poverty, “the need for more rapid economic growth over a long period of time.”

According to WB estimates, at the current pace of economic development of Ukraine will take 50-100 years to reach the level of developed European countries. To reach the level of Germany would need 100 years, and Poland – 50 years.

To speed up the process, the country is encouraged to continue reforms, to expand foreign trade and strengthen economic institutions.

Earlier, the world Bank has called the conditions for acceleration of economic growth in Ukraine.

The world Bank downgraded the forecast for Ukraine’s GDP

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