IMF notes "progress" in Ukraine since start of cooperation program

REUTERS

Prime Minister of Ukraine Volodymyr Groysman held a meeting with the International Monetary Fund’s mission on Tuesday. The parties discussed future joint steps to implement structural reforms in Ukraine and support economic growth, the Ukrainian government's press service reported Tuesday.

European Department Deputy Director Athanasios Arvanitis drew attention to the progress that has been made over a year and half since the beginning of the cooperation program with Ukraine, reads the report. In particular, he commended the growth of the economy of Ukraine at the level of 1.8% in 3Q 2016, inflation at 10-12%, State budget deficit that does not exceed the planned 3.5%. Also, as compared to last year there have increased the country's foreign reserves, been restored confidence in the banking system. "We can see that a positive trend is observed in all directions if we compare the current situation with that of last year," said Athanasios Arvanitis.

"I hope that together we can continue to concentrate on structural reforms and to pursue these in the future. All our efforts should be directed on actions to make the economy successful, while achievements – significant," emphasized Athanasios Arvanitis.

Volodymyr Groysman stressed that the Government of Ukraine is resolute to prolong successful reforms in the country and focuses on the agenda of its action program to be executed in full. "We understand that the structural reforms vital for the country prove necessary, first and foremost, for Ukraine, to let us out of the difficult economic situation that we have occurred in as a result of decades without reforms," stressed the Head of Government. 

Volodymyr Groysman noted that the Ukrainian economy was demonstrating a growing trend. This growth must be preserved and accelerated, he said. According to him, the smooth work of the Government and Parliament will ensure further successful development of the country. 

The Prime Minister mentioned that the Government continues corporatization of state-owned enterprises, is taking measures to de-shadow the economy and to provide economic boost. The Head of Ukraine’s Government informed the interlocutors that the discussions on the draft Budget for 2017 are ongoing in Ukraine. The Government pays every effort to ensure that the budget process be completed on time and expects the Parliament to adopt the State budget, stressed Volodymyr Groysman.

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