The poverty level will increase in Ukraine – WB forecast

The level of poverty among Ukrainians will increase due to the economic crisis, according to the World Bank.

The level of poverty will increase in Ukraine amid the economic crisis. This forecast was made by the World Bank on Wednesday, October 7.

Poverty, calculated using the international poverty line of $ 5.5 per day, is low in Ukraine and is expected to increase by 0.2 percentage points. in 2020 up to 2.3%.

Also, at higher thresholds, poverty growth will be higher. At the same time, the poverty level, which will be calculated on the basis of the World Bank national poverty line for Ukraine, is expected to increase by 2 percentage points. in 2020.

“Sustainable economic growth is necessary to reduce poverty in the medium term,” the document says.

Recall that previously the World Bank predicted a decline in Ukraine’s GDP due to the crisis. The slowdown in the implementation of structural reforms will lead to a slow recovery in the country’s economic growth after the coronavirus crisis in 2020.

The Ministry of Finance named the risks to the economy in 2021

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