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The head of the IMF praised Ukraine for important achievements

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The inflation rate in Ukraine has been brought to single digits, which not all economies can achieve even in peacetime, noted Kristalina Georgieva.

The International Monetary Fund, in preparation for the second revision of the Extended Fund Facility (EFF), cited at least three important achievements of Ukraine related to economic stabilization. The managing director of the fund, Kristalina Georgieva, said this at a press conference in Marrakesh, the capital of Morocco, Ukrinform reported on Wednesday, October 12.

The first such success, according to him, is the continuation of economic growth in Ukraine.

“We are now forecasting growth at around 3%. We have had a range of 1% to 3%, and we are leaning towards the higher end of this range,” Georgieva said.

In addition, the inflation rate in Ukraine was brought to single digits, which not all economies can achieve even in peacetime. The head of the IMF recalled that the inflation rate in Ukraine was high and decreased due to “thoughtful policies.”

The third achievement is that Ukraine has built up a solid international reserve. This allowed the NBU to begin implementing measures for managed exchange rate flexibility.

Georgieva recalled the need for significant progress on the Ukrainian side in controlling spending. In particular, Ukraine has already adopted a law providing for the renewal of declarations.

The head of the Fund emphasized that the IMF is cooperating with the Ukrainian authorities “in all aspects” of the EFF extended financing program. And the fact that the Foundation’s office continued permanent work in Kyiv “allows us to communicate with the Ukrainian authorities every day.”

We remind you that the IMF recently improved its forecast for Ukraine’s GDP to 2% growth in 2023. At the same time, in April, the Fund expected the Ukrainian economy to shrink by 3%.

Also, the macro forecast for Ukraine provides for a reduction in inflation from 26.6% last year to 15.5% this year and up to 10% next, although by the end of September it had dropped to 7.1%.

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Source: korrespondent

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