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World Bank forecasts deeper Ukraine recession

Published 04/07/2009, 04:40 AM
Updated 04/07/2009, 04:48 AM

KIEV, April 7 (Reuters) - The World Bank on Tuesday predicted Ukraine's economy would contract more than it had earlier suggested, revising its 2009 GDP forecast to minus 9.0 percent from its previous figure of minus 4.0 percent.

World Bank economist Ruslan Piontkivsky said the bank foresaw a slow recovery of the economy, with 1.0 percent growth in gross domestic product in 2010, 3.5 percent growth in 2011 and 4-5 percent from 2012.

Piontkivsky also said the Bank had raised upward its 2009 inflation forecast to 16.4 percent from an earlier figure of 13.6 percent. (Reporting by Yuri Kulikov, writing by Ron Popeski; editing by David Stamp)

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