KIEV, Oct. 7 – A weak global economic environment and lack of reforms in Ukraine have worsened the country’s prospects, increasing macroeconomic pressures in 2013, the World Bank said in a report Monday.

The bank lowered Ukraine’s economic growth forecast to zero in 2013, down from 1% earlier, and urged the government to start implementing the reforms.

“Ukraine will benefit from taking the steps to ensure a sustainable macroeconomic framework by lowering its fiscal deficit and adopting a flexible exchange rate policy,” Qimiao Fan, World Bank Director for Belarus, Moldova and Ukraine, said. “In addition, key structural reforms to spur private enterprise and strengthen the energy sector are needed urgently to jumpstart growth."