World Bank slashes war-torn Ukraine's economic outlook

The World Bank sharply cut its outlook for war-torn Ukraine Wednesday, forecasting its economy will shrink by a massive 7.5 percent this year due to the conflict with pro-Russian separatists. The international lender lowered its 2015 economic outlook from its previous estimate of a 2.3 percent contraction. The new forecast is even grimmer than estimates by the Ukrainian government and IMF of a 5.5 percent decline in gross domestic product. Ukraine's economic output had already fallen by 6.8