The IMF mission completed its work in Ukraine

© AFP 2017 / Sergei ERPII. Archival photoThe IMF mission completed its work in Ukraine© 2017 AFP / Sergei Supinsky

The IMF mission completed its work in Kiev, however, the Fund’s experts will continue discussions with the Ukrainian authorities the state budget for 2018 to ensure its deficit to 2.5 percent of GDP, said the IMF resident representative in Ukraine Jost Longman.

«The IMF experts visited Kyiv during the period from 9 to November 17 for a technical discussion of the draft budget for 2018. This discussion will be continued at the next weeks in order to ensure compliance with the adopted budget deficit level of 2.5 percent of GDP, approved by the economic reform program of Ukraine supported by the Fund», — reads the statement of Longman, which leads the press service of the representative office of the Foundation on Monday.

The Ukrainian Parliament on 14 November approved in the first reading the draft state budget for 2018 with a deficit of 2.4% of GDP and inflation at seven percent.

The visit of a technical mission in November, previously announced by the national Bank of Ukraine. The regulator expects to receive next IMF tranche in the first quarter of 2018, while the Finance Ministry predicted the allocation of these funds by the end of this year. Ukraine expects to receive the fifth tranche of the IMF’s $ 1.9 billion, but the timing of its receipt is not yet known, since they depend on the acceptance by Kiev of a number of decisions in the framework of the reform program.

The four-year program of financial assistance the IMF provides the allocation of Ukraine 17.5 billion dollars. In March 2015, was transferred the first tranche of five billion dollars, in August of the same year the second tranche of 1.7 billion. In September 2016, the Fund transferred the third tranche of loan to Ukraine in the amount of one billion dollars. In 2017, Ukraine has received only one tranche of one billion dollars. He joined in April.

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