The economy of Ukraine in 2013 will grow by 1% - EBRR

In the current forecast of regional economies, the European Bank for Reconstruction and Development reduced the prospects for the growth of the Ukrainian economy in 2013 to 1%. Meanwhile, a couple of months ago, the GDP growth in Ukraine was predicted by EBRD experts at 2.5%. This can be seen from the text of the last economic forecast of the EBRR.

Anthony Williams, the author of the publication, said that the deterioration of the forecast is explained by the slowdown in the economic development of Ukraine that is ongoing all the second half of 2012 and a sharp decline in industrial production at the end of the year.

The drop in production in metallurgy and engineering, reducing the construction of new facilities and the lack of investments in the infrastructure of Ukraine, as well as a significant dependence of the country's economy on the situation in the eurozone, gave rise to the experts of the EBRD to change their opinion.

The bank admits that in 2014 and subsequent years, growth may resume at a faster pace, but it is very important that the National Bank pursues a coordinated monetary policy in accordance with the recommendation of the International Monetary Fund.

According to Anthony Wilms, "the economy of Ukraine is under the strong influence of a complex external environment and uncertainty in domestic policy relatively important aspects."

Recall that the state budget of Ukraine provides for GDP growth in 2013 at 3.4%.