KYIV, Oct 7 – The World Bank raised its forecast for Ukraine's gross domestic product (GDP) growth in 2022 from 3.1% to 3.5%, and from 3.1% to 3.7% in 2023, while the growth estimate for the current year is kept at the level of 3.8%.

"A slow recovery from the COVID-19 shock is underway, supported by high commodity prices and rising government spending. Above-target inflation and rising fiscal spending pressures require continued prudent monetary and fiscal policy," the World Bank said in its October Europe and Central Asia Economic Update.