Why this year will be hard for Ukrainians. The World Bank forecast

April 4, 2014 19:50

The reforms will be painful for Ukrainians in 2014, but they will give an impetus to economical growth starting from 2015

The World Bank presented its regular macro-economical projections for Ukraine. LigaBusinessInform names the core points expressed during a presentation by Chimao Fun, the head of the World Bank Office in Ukraine, Belarus, and Moldova, Lolita Murti, the leading economist of the bank in the region, and the economist Anastasiya Golovach. Continue reading

Yatsenyuk: the poverty line in Ukraine will not increase in 2014

Speaking on Shuster LIVE on Friday night, Prime Minister Arseniy Yatsenyuk stated that the poverty line in Ukraine will not increase in 2014.

“We’re being honest about this: we’re not raising the minimum living standards this year, but we’re also not cutting them. These levels will be frozen as of January 1 of this year”, said Yatsenyuk.

Nevertheless, according to him, “the government has managed to leave enough funds in the budget to allow for indexation to inflation level.” “In other words, the prices will be going up. The dollar’s exchange rate went up against hryvnia, which means that everything will go up. We forecast inflation at the rate of 12-14%. This is consumer price increase. That is why we will index pensions and the poverty line to adjust them to inflation rate”, added the Prime Minister. Yatsenyuk also reminded that the rates for gas and heat for consumers will be increasing gradually. Continue reading