The World Bank predicted a jump in inflation in Ukraine

Today, April 29th, at a briefing, World Bank economist Anastasia Holovach reported that Ukrainian inflation could reach about 40 percent in 2015. She also predicted a steep rise in prices in Ukraine - consumer prices are expected to increase by 40 percent by the end of the current year.

In addition, the World Bank expects that the inflation rate in Ukraine will fall in 2015, but the country should return to a single-digit inflation rate by the end of 2017 or in 2018, Holovach said at the briefing.

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Meanwhile, the Ukrainian economy is likely to shrink by 7.5 percent this year, the economist added. Such forecasts were provided by the central bank.

The economic decline in Ukraine has reached a critical point, but the government expects a gradual recovery starting in the second quarter of 2015. According to NBU head Valeria Hontareva, the positive impact of exports and capacity utilization will help in the recovery of the country's economy. Additionally, a revival of consumer and investor demand is anticipated.

According to forecasts, the overall decline in Ukraine's real GDP in 2015 will amount to 7.5% compared to a decrease of 6.8% in 2014. At the same time, it is expected that the gross domestic product will resume its growth and increase by 3 percent in 2016.

'We have already passed the point of no return in 2014, which became critical for the country and the Ukrainian people', Hontareva said.

The excess of revenues over expenditures this year and next year is expected to be achieved thanks to large volumes of external financing and the anticipated restructuring of sovereign and quasi-sovereign repayments, the head of the National Bank stated. Along with financial assistance from the IMF, this will help replenish international reserves to 18 billion dollars.

The volume of industrial production in Ukraine decreased by 10.7 percent last year, while in 2013 this figure was 4.7 percent, and 0.5 percent of industrial decline was recorded in 2012. In 2015, a decline of 5.5 percent is expected according to IMF forecasts. The Fund also predicts a slowdown in the decline of Ukraine's real GDP from 6.8 percent in 2014 to 5.5 percent in 2015.

Nevertheless, some experts believe that Ukraine poses a significant and dangerous threat to the future of the EU.

It should be noted that Deputy Chairman of the Ukrainian National Bank Dmytro Sologub also predicted an increase in inflation in Ukraine to 30 percent. According to him, lower figures should not be expected.