## Ukraine: 2016 Article IV Consultation and third review under the Extended Arrangement, Requests for a Waiver of Non-Observance of a Performance Criterion, Waiver of Applicability, Rephasing of Access and Financing Assurances Review—Press Release; Staff Report; and Statement by the Executive Director for Ukraine

_IMF Staff Country Reports, April 4, 2017_

## Source details

**Canonical URL:** [Ukraine: 2016 Article IV Consultation and third review under the Extended Arrangement, Requests for a Waiver of Non-Observance of a Performance Criterion, Waiver of Applicability, Rephasing of Access and Financing Assurances Review—Press Release; Staff Report; and Statement by the Executive Director for Ukraine](https://www.imf.org/en/publications/cr/issues/2017/04/04/ukraine-2016-article-iv-consultation-and-third-review-under-the-extended-arrangement-44798)

## Other formats

- [Markdown version](/en/publications/cr/issues/2017/04/04/ukraine-2016-article-iv-consultation-and-third-review-under-the-extended-arrangement-44798/index.md)
- [Structured JSON version](/en/publications/cr/issues/2017/04/04/ukraine-2016-article-iv-consultation-and-third-review-under-the-extended-arrangement-44798/index.json)
- [Bundle manifest](/en/publications/cr/issues/2017/04/04/ukraine-2016-article-iv-consultation-and-third-review-under-the-extended-arrangement-44798/bundle-manifest.json)

## Bibliographic details
- Published: April 4, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475592481.002

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### Summary findings
- Following a severe crisis in 2014–15, the economy of Ukraine is growing again.
- Flexible exchange rate and tight fiscal and monetary policies have greatly reduced internal and external imbalances.
- The current account deficit fell sharply, from more than 9 percent of GDP in 2013 to 3.6 percent of GDP in 2016.
- The overall fiscal deficit declined to 2.3 percent of GDP in 2016.

### Growth outlook and projections
- Growth will remain at 2 percent in 2017 due to the impact of the blockade in the eastern part of Ukraine.
- Growth is expected to reach 3 percent in 2018 as the economy adjusts.
- Growth is expected to be about 3.5–4.0 percent over the medium term.

### Policy themes and focal areas
- Exchange rate policy: flexible exchange rate noted as a contributor to stabilization.
- Fiscal and monetary policy: tight policies credited with reducing imbalances.
- Structural and sectoral focus areas identified (as listed in subject tags): Banking, Expenditure, Fiscal policy, Pension spending, Public debt, Revenue administration, Structural reforms, Tariffs, Taxes.

### Keywords and diagnostic tags (as provided)
- bank, CR, disbursement of SDR, Europe, exchange rate, Global, IMF composite index, IMF staff estimate, ISCR, monetary policy, NBU profit transfer, NBU's independence, Pension spending, Tariffs, Ukraine

*Ukraine: 2016 Article IV Consultation and third review under the Extended Arrangement; IMF Staff Country Report No. 2017/083.*

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2017/cr1783.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2017/cr1783.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2017/04/04/ukraine-2016-article-iv-consultation-and-third-review-under-the-extended-arrangement-44798_