KIEV, Jan. 21 – The European Bank for Reconstruction and Development has lowered its forecast for Ukraine's economy this year, predicting growth of 1% in 2013, down from its October projection of 2.5%.

The overview of regional economic prospects, which was published by the EBRD on Monday, reads that the EBRD also downgraded to zero the country's GDP forecast over 2012, while three months ago the bank expected to see 1% GDP growth in Ukraine.