IMF Staff Country Reports

Ukraine: 2006 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

Publication Date:

February 5, 2007

Electronic Access:

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Summary:

This 2006 Article IV Consultation highlights that Ukraine’s fiscal policy in 2005–06 reshuffled resources from higher saving businesses to lower saving households, touching off a consumption boom, which has been reinforced by rapid credit expansion. In 2005, this boom helped to offset the drag on the economy from marked real currency appreciation, weaker steel exports owing to intensified third-country competition, higher business-tax collections, and post-Orange-Revolution reforms, which clamped down on tax loopholes, smuggling, and corruption. The authorities have proven adept at hitting low fiscal deficit targets.

Series:

Country Report No. 2007/050

Subject:

Banking Energy prices External debt Import prices Inflation Prices Public debt