{
  "title": "Ukraine: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ukraine.",
  "publication": "IMF Staff Country Reports, June 19, 2003",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/ukraine-2003-article-iv-consultation-staff-report-public-information-notice-on-the-executive-16643",
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  "summary": "This 2003 Article IV Consultation highlights that real GDP of Ukraine grew by more than 4½ percent in 2002, marking the third year of Ukraine’s economic expansion following the 1998/99 financial crisis.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Real GDP of Ukraine grew by more than 4½ percent in 2002, marking the third year of Ukraine’s economic expansion following the 1998/99 financial crisis.\n- Growth drivers included robust consumer spending (reflecting large wage increases) and an increase in net external demand.\n- Consumer price inflation fell to near zero in 2002, primarily reflecting good harvests in 2001/02 and a sharp drop in food prices.\n- Low inflation was also supported by a tightening of fiscal policy and delays in increasing administered prices."
    },
    {
      "heading": "Economic performance and drivers",
      "content": "- Real GDP growth: more than 4½ percent in 2002.\n- Third consecutive year of expansion after the 1998/99 financial crisis.\n- Domestic demand:\n  - Robust consumer spending, driven by large wage increases.\n- External sector:\n  - Increase in net external demand contributed to growth."
    },
    {
      "heading": "Inflation and price developments",
      "content": "- Consumer price inflation: fell to near zero in 2002.\n- Primary factors:\n  - Good harvests in 2001/02.\n  - Resulting sharp drop in food prices.\n  - Tightening of fiscal policy.\n  - Delays in increasing administered prices."
    },
    {
      "heading": "Policy environment",
      "content": "- Fiscal policy: described as tightened and contributing to low inflation.\n- Administered prices: increases were delayed, supporting low inflation.\n- No additional policy recommendations or scenarios are provided on the page excerpt."
    },
    {
      "heading": "Subject tags and keywords (as listed)",
      "content": "- Subject: Arrears, Credit, Currencies, Economic sectors, Energy sector, External debt, Money, Public debt\n- Keywords: Arrears, Asia and Pacific, budget legislation, consumer price inflation, CR, Currencies, Energy sector, exchange rate, Global, government, government intervention, government program, ISCR\n\n---\n\n Content in this bundle\n\n- cr03172\n  - cr03172 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr03172 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 19, 2003",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451838961.002",
    "Real GDP of Ukraine grew by more than 4½ percent in 2002, marking the third year of Ukraine’s economic expansion following the 1998/99 financial crisis.",
    "Growth drivers included robust consumer spending (reflecting large wage increases) and an increase in net external demand.",
    "Consumer price inflation fell to near zero in 2002, primarily reflecting good harvests in 2001/02 and a sharp drop in food prices.",
    "Low inflation was also supported by a tightening of fiscal policy and delays in increasing administered prices.",
    "Real GDP growth: more than 4½ percent in 2002.",
    "Third consecutive year of expansion after the 1998/99 financial crisis.",
    "Domestic demand:",
    "External sector:",
    "Consumer price inflation: fell to near zero in 2002.",
    "Primary factors:",
    "Fiscal policy: described as tightened and contributing to low inflation.",
    "Administered prices: increases were delayed, supporting low inflation.",
    "No additional policy recommendations or scenarios are provided on the page excerpt.",
    "Subject: Arrears, Credit, Currencies, Economic sectors, Energy sector, External debt, Money, Public debt",
    "Keywords: Arrears, Asia and Pacific, budget legislation, consumer price inflation, CR, Currencies, Energy sector, exchange rate, Global, government, government intervention, government program, ISCR",
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