Based on the assumption that hostilities in Eastern Ukraine would continue till late 2014 and further into the next year, the IMF in early September worsened its forecast of an economic downturn in Ukraine. In particular, GDP is expected to drop from earlier forecasted 6.5% to 7.25% in 2014 and by another 4.25% in 2015. Some positive dynamics of GDP in the country can be seen in 2016 if the following IMF’s requirements are fulfilled: building up gold and foreign exchange reserves of the National Bank of Ukraine, ramping up tariffs on housing and communal services, optimize the government’s structure and ensure the budget execution.
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