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
April 4, 2017
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This 2016 Article IV Consultation shows that following a severe crisis in 2014–15, the economy of Ukraine is growing again. The 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 will remain at 2 percent in 2017 due to the impact of the blockade in the eastern part of Ukraine, but is expected to reach 3 percent in 2018 as the economy adjusts and about 3.5–4.0 percent over the medium term.
Subject: Banking, Expenditure, Fiscal policy, Pension spending, Public debt, Revenue administration, Structural reforms, Tariffs, Taxes
Keywords: 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
Pages:
175
Volume:
2017
DOI:
Issue:
083
Series:
Country Report No. 2017/083
Stock No:
1UKREA2017001
ISBN:
9781475592481
ISSN:
1934-7685
