KYIV, April 6 – A Ukraine's economy is projected to grow by 0.5% this year, following a staggering contraction of 29.2% in 2022, and by 3.5% next year, the World Bank predicts, which expected faster growth in January this year: by 3.3% in 2023 and by 4.1% in 2024.

"While the economic toll suffered by Ukraine as a result of the invasion is enormous, the reopening of Ukraine’s Black Sea ports and resumption of grain trade, as well as substantial donor support, are helping support economic activity this year," the World Bank said in the Economic Update for the region published on Thursday.