REUTERS
The International Monetary Fund (IMF) sees the first signs of economic recovery in Ukraine, including improvement in consumer sentiment and slowing decline in industrial output, along with the resumption of growth in other structurally important economy sectors, according to the IMF Resident Representative in Ukraine Jerome Vacher who spoke at the Kyiv International Economic Forum today, October 8.
The IMF representative also noted the stabilization in the financial sector of Ukraine, increase in deposits, as well as stabilization of the exchange rate. Furthermore, there are positive signals regarding such indicators as GDP, industrial output, improvement in consumer sentiment, according to Vacher.
As reported earlier, the IMF has maintained its forecast of Ukraine's GDP drop in 2015 at the level of 9% with inflation expected to reach 50%. The balance of payments deficit is projected at 1.7% of GDP and the unemployment rate at 11.5%.
Read alsoIMF: Ukraine’s public debt to exceed 94% of GDPThe forecast did not consider the opinions of the IMF review mission that is currently working in Ukraine. The mission has worsened its forecast as to the fall of Ukraine's GDP in 2015 to 11% as it has been studying the economic situation in the country.
The IMF confirms forecast for Ukraine's GDP growth at 2% in 2016, the inflation at 14.2%, the balance of payments deficit at 1.6% of GDP, and the unemployment rate at 11%, consistent with the forecast made by the IMF review mission.
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The IMF noted that the geopolitical tensions in Ukraine remain to be a very important factor determining the situation.
As UNIAN reported earlier, Ukraine and the IMF are implementing a financial assistance program for Ukraine, designed for four years, under the Enhanced Extended Fund Facility and worth a total of $17.5 billion. Ukraine received the first tranche under the program totaling $5 billion on March 13 - immediately after the approval of the program. The IMF Executive Board approved on July 31 the second tranche of the loan in the amount of $1.7 billion. The funds were settled in the accounts of the National Bank of Ukraine on August 4 and transferred to Ukraine's foreign exchange reserves. The National Bank of Ukraine expects to receive the third tranche from the IMF in mid-November.