The economy of Ukraine has overcome the severe crisis caused by armed conflict in the eastern part of country. A 200% devaluation of the hryvnia in 2014-2015 made Ukrainian goods and services cheaper and more competitive. In 2016, for the first time since 2010, the economy grew by more than 2%. A 2017 World Bank statement projected growth of 2% in 2017, of 3.5% in 2018 and of 4% in 2019 and 2020. Inflation in Ukraine in 2017 was 13.7% (12.4% in 2016).