The International Monetary Fund (IMF) has retained its forecast for Ukraine’s economy growth in 2016 at 1.5% and in 2017 at 2.5%, according to an economic survey of the central and southern states of Eastern Europe (CEE Outlook), Interfax-Ukraine reports.
“The positive dynamics of the economy over the year will be facilitated by a reduction of macroeconomic imbalances, as well as the weakening of the geopolitical situation,” the report says.
Meanwhile, the IMF still notes a high importance of Ukraine’s implementing a number of structural reforms.
“Critical for Ukraine is the fight against corruption, judicial reform, the reform of tax administration, as well as reforms at state-owned enterprises, including improving governance and reducing their dependence on the national budget,” the IMF said.
Inflation estimates also remain unchanged at the level of 13% in 2016 and at 8.5% in 2017, while the current account balance at minus 2.6% of GDP and minus 2.3% of GDP respectively.
According to the review, a high level of inflation expected in the current year is due to the depreciation of the national currency.
In addition, the IMF forecasts a growth of Ukraine’s gross external debt in 2016 to 152.3% of GDP from 136.4% of GDP and the reduction in 2017 to 140.3% of GDP.
The flight to the moon comes from a breakthrough in technology In a move that…
The Unprecedented Advancement of Digital Currency Edward Snowden, the notorious whistleblower and staunch advocate for…
In the ever-evolving tapestry of music, where genres blend like colors on a canvas, Beyoncé…
The Verdict Heard Round the World In a seismic shift, Donald Trump, the erstwhile President…
Another high point for Emma Stone The 2024 EE BAFTA Film Awards marked a significant…
In an era where artificial intelligence (AI) holds the power to both innovate and destabilize,…