## Ukraine: 2005 Article IV Consultation and Ex Post Assessment of Longer-Term Program Engagement: Staff Reports; Staff Supplement; and Public Information Notice on the Executive Board Discussion

_IMF Staff Country Reports, November 28, 2005_

## Source details

**Canonical URL:** [Ukraine: 2005 Article IV Consultation and Ex Post Assessment of Longer-Term Program Engagement: Staff Reports; Staff Supplement; and Public Information Notice on the Executive Board Discussion](https://www.imf.org/en/publications/cr/issues/2016/12/31/ukraine-2005-article-iv-consultation-and-ex-post-assessment-of-longer-term-program-18717)

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## Bibliographic details
- Published: November 28, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451839067.002

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### Executive summary
- After four years of strong activity, annual growth slowed sharply, from a peak of about 12 percent in 2004 to 3 percent for January–September 2005.
- Fiscal policy in 2005 aimed at a significant fiscal tightening, with the supplementary 2005 budget targeting a general government deficit of 2½ percent of GDP compared with the 4½ percent of GDP realized during 2004, and the 6–7 percent of GDP implicit in the original 2005 budget.

### Key findings
- Growth trajectory:
  - Peak growth: about 12 percent in 2004.
  - Growth for January–September 2005: 3 percent.
- Fiscal position and adjustments:
  - Supplementary 2005 budget target: general government deficit of 2½ percent of GDP.
  - Realized 2004 general government deficit: 4½ percent of GDP.
  - Implicit deficit in the original 2005 budget: 6–7 percent of GDP.

### Policy implications and assessment focus
- The report centers on the 2005 Article IV Consultation and an ex post assessment of longer-term program engagement, emphasizing the implications of the marked growth slowdown and the scale of fiscal tightening implemented in 2005.
- Fiscal tightening in 2005 is a central element of policy assessment given the shift from the originally implicit 6–7 percent of GDP deficit to the supplementary target of 2½ percent of GDP.

### Scope and topics covered
- Subject areas listed: Currencies, External debt, Financial crises, Fiscal policy, Inflation, Prices, Public debt.
- Keywords provided: Baltics, broad money, CR, debt, draft budget, exchange rate, GDP, Global, government, Inflation, ISCR, monetary policy, real GDP, U.S. dollar.

*Ukraine: 2005 Article IV Consultation and Ex Post Assessment of Longer-Term Program Engagement: Staff Reports; Staff Supplement; and Public Information Notice on the Executive Board Discussion*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/ukraine-2005-article-iv-consultation-and-ex-post-assessment-of-longer-term-program-18717_