KIEV, Jan. 21 – The European Bank for Reconstruction and Development has worsened its forecast for the reduction in Ukraine's GDP in 2013 from 0.5% to 0.8%, while maintaining the forecast for economic recovery in 2014 at 1.5%.

"Ukraine is expected to exit recession after virtually no growth in 2012 and an output contraction in 2013. However, the economy's medium-term prospects remain highly uncertain given large external imbalances, which in the short term will be partly financed by the package agreed with Russia," the bank said in an overview of the countries on the region on Tuesday.