KIEV, Dec. 22 - The World Bank has lowered its forecast for Ukraine's GDP growth in 2012 from 5% to 2.5%, senior economist at the World Bank's mission in Ukraine Ruslan Piontkovsky said Thursday.

According to the World Bank's updated forecast, inflation is expected at 9.4% in the country in 2012, compared to the previous prediction of 10%.

The World Bank also lowered its inflation forecast for 2011 - from 11.4% to 5.6%. At the same time, it is keeping its previous forecast for 2011 GDP growth at 4.5%. It kept its forecast for 2013 inflation at 7.4% but lowered its GDP growth forecast for that year from 4.5% to 4%.