KIEV, June 6 (Xinhua) -- The World Bank (WB) has raised its projection for Ukraine's gross domestic product (GDP) growth in 2018 by 0.5 percentage points to 3.5 percent, according to the bank's report released here Tuesday.
According to the WB's flagship Global Economic Prospects report, the performance of the Ukrainian economy has improved due to the government's stabilization efforts, supported by international financial institutions, and a bumper agricultural crop in 2016.
For this year, the bank has maintained its GDP growth forecast for Ukraine at 2 percent, saying the currency in the East European country has strengthened and inflation has retreated as commodity prices have stabilized.
Last week, the Ukrainian government slashed its forecast for the country's GDP growth in 2017 to 1.8 percent from 3 percent estimated in June 2016.
The Ukrainian economy grew 2.3 percent in 2016 after two years of contraction. The government has projected the country's GDP will go up by 3 percent in 2018, with inflation down to 7 percent.
