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The president is convinced that the most difficult times for the country are already over.
Ukrainian President Petro Poroshenko believes that in 2018, Ukraine managed to ensure macro-financial stabilization and escape from the risk zone.
“Four years ago, Ukraine was half step short of default and one step short of a national catastrophe," Poroshenko wrote on Facebook Friday.
"And Russia's further armed aggression, illegal annexation of Crimea, and occupation of a part of Donbas led to the loss of about a quarter of our industrial potential,” wrote the president.
Read alsoUkraine's economy-2019: Slower growth with lower inflation
“However, we managed together to ensure macro-financial stabilization and Ukraine’s pull-out from the risk zone. I clearly realize that we still have many issues yet to be solved. But we're definitely past the hardest part. Moving forward!” added Poroshenko.
As UNIAN reported earlier, the IMF's Executive Board approved a new bailout program for Ukraine in the amount of US$3.9 billion. The program focuses on further fiscal consolidation, a reduction in inflation, the strengthening of the financial sector and an improvement in tax administration.
In addition, the World Bank's Board of Directors approved a financial guarantee to Ukraine for US$750 million, which will help raise about US$1 billion on international markets for the country's national budget.
Ukraine's international reserves in 2018 grew 10.6%, to $20.820 billion, updating a five-year record, according to the National Bank.