World Bank cuts Ukraine 2013 economic growth forecast to zero | Reuters:
"The World Bank expects Ukraine's economy will be flat this year following a weak first-half performance, it said on Monday, cutting its previous forecast for 1 percent growth.
The former Soviet republic's export-oriented economy, dominated by steel production, dipped into recession in the second half of 2012 due to declining global demand for metals and it continued to contract in the first half of this year.
"We expect that growth of GDP will resume in the second half of this year but it will not be enough to compensate the fall in the first half," World Bank analyst Anastasia Holovach told a news conference in Kiev.
Ukraine has been under scrutiny by ratings agencies on concerns that it could default on its debt."
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