The World Bank has forecast that Ukraine's foreign debt will amount to 82.2% of GDP in 2010, 77.7% of GDP in 2011, and 72.4% of GDP in 2012, Senior Economist at the World Bank's Office in Ukraine Ruslan Piontkovsky said, UKRINFORM reported.
He also said that Ukraine's public and publicly guaranteed debt in 2010-2012 would rise within 1% of GDP, to 41.6% of GDP in 2010, 42.8% of GDP in 2011, and 42.6% of GDP in 2012.
"According to our forecasts, the banking sector will gradually resume the funding of the private sector, in addition, in 2011-2012 we expect a reduction in export growth due to the statistical base effect and a slowdown in external demand," Piontkovsky said.
The World Bank predicted that exports would grow by 6.5% in 2010, by 5.5% in 2011, and by 5.1% in 2012. Imports, in turn, will grow by 10.8% in 2010, and by 5.7% each in 2011 and 2012.
"According to the World Bank, there is significant potential to improve economic growth and export figures... Ukraine should speed up structural reforms that will make exported goods more competitive," the economist said.
The World Bank also forecast the growth of the negative current account balance in 2010-2012, from 2.2% in 2010 to 3.4% in 2012. "If a balanced foreign policy is conducted and the program with the IMF is implemented, then there will be resources to overcome this negative phenomenon," he said.
He also said that Ukraine's public and publicly guaranteed debt in 2010-2012 would rise within 1% of GDP, to 41.6% of GDP in 2010, 42.8% of GDP in 2011, and 42.6% of GDP in 2012.
"According to our forecasts, the banking sector will gradually resume the funding of the private sector, in addition, in 2011-2012 we expect a reduction in export growth due to the statistical base effect and a slowdown in external demand," Piontkovsky said.
The World Bank predicted that exports would grow by 6.5% in 2010, by 5.5% in 2011, and by 5.1% in 2012. Imports, in turn, will grow by 10.8% in 2010, and by 5.7% each in 2011 and 2012.
"According to the World Bank, there is significant potential to improve economic growth and export figures... Ukraine should speed up structural reforms that will make exported goods more competitive," the economist said.
The World Bank also forecast the growth of the negative current account balance in 2010-2012, from 2.2% in 2010 to 3.4% in 2012. "If a balanced foreign policy is conducted and the program with the IMF is implemented, then there will be resources to overcome this negative phenomenon," he said.
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