Ukraine rebounding

KIEV: The World Bank on Monday said it expected crisis-torn Ukraine’s imploding economy to start recovering later this year and reach one per cent growth in 2016.

The bank maintained its earlier outlook of a 12 per cent economic contraction across 2015. It also warned its projections depended on the government’s ability to implement long-promised cost-and corruption-cutting measures instrumental to sustainable growth.

The International Monetary Fund on Saturday said it saw Ukraine posting growth of two per cent after shrinking by 11 per cent this year.