IMF approves $1.1 billion for Ukraine and forecasts GDP growth
Kyiv • UNN
The IMF reaches an agreement with Ukraine on the fifth review of the EFF program. The Fund forecasts GDP growth of 3% in 2024 and emphasizes the need to save the budget and fight tax evasion.
The International Monetary Fund has published on its website information about reaching agreements with the Ukrainian authorities on the fifth review of the four-year Extended Fund Facility program. As a result of the mission's work in Kyiv, Ukraine will have access to 1.1 billion dollars, UNN reports .
Details
The IMF mission chief, Gavin Gray, noted that the government has met the criteria set by the IMF for the first half of the year. GDP grew by more than 6% in the first quarter, inflation remained relatively low, and international reserves were within adequate limits.
In general, the IMF predicts that GDP growth will be 3% in 2024, and in the next 12 months the figure will be in the range of 2.5-3.5%, as the mission expects the war to continue throughout 2025.
The Fund emphasizes the need to formulate the state budget of Ukraine for the coming year, taking into account the need for savings and preserving the ability to service debts. According to the experts, this requires increasing tax revenues - not only through permanent changes to the tax system, but also by fighting tax evasion and the shadow economy.
