: IMF predicts positive dynamics for Ukraine's GDP in coming years

13:21 May. 6, 2016

IMF predicts positive dynamics for Ukraine's GDP in coming years

A girl walks her dog near the Pokrovsky Cathedral in Kiev, Ukraine, Oct. 9, 2015. (AP Photo)

Fund's officials say Ukraine should concentrate on immediate implementation of reforms and fighting corruption

International Monetary Fund (IMF) predicts Ukraine's economy to grow in 2016 and 2017 by 1.5% and 2.5% respectively. 

According to the economic survey of the central and southern states of Eastern Europe (CEE Outlook), posted on the fund's website, "the positive dynamics of the economy over the year will be facilitated by a reduction of macroeconomic imbalances, as well as the weakening of the geopolitical situation".

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However, IMF notes that the immediate implementation of economic reforms, together with measures aimed at fighting corruption should remain country's primary tasks for the next couple of years.

"Critical for Ukraine is the fight against corruption, judicial reform, the reform of tax administration, as well as reforms at state-owned enterprises, including improving governance and reducing their dependence on the national budget," report says.

Read also Balcerowicz: Ukraine seeing beginning of economic growth

The level of inflation is predicted to remain stable, at 13% in 2016 and 8.5% in 2017.The current account balance indicator will stand at minus 2.6% of GDP and 2.3% of GDP respectively.

Yet the outlook concerning gross external debt is not expected to be so stable, showing 16% growth in 2016 and 12% decline in 2017.

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