President’s Office expects GDP growth to be more than 4% in 2021

President’s Office expects GDP growth to be more than 4% in 2021

Oleh Ustenko, the Ukrainian president’s economic adviser, has said he expects Ukraine’s GDP growth in 2021 will be more than 4%.

He stated this on the air of TV Channel 24, Ukrinform reports with reference to the president’s press service.

It is noted that technical consultations are underway with the International Monetary Fund (IMF) on the signing of a preliminary agreement to extend the program of cooperation with the Fund.

"The staff level agreement is an agreement that is preliminary signed between all parties, in our case - between the state of Ukraine and the IMF. That is, it is a preliminary understanding of how the program will be built [cooperation with the IMF]. Yes, we are waiting for the signing of this preliminary agreement - staff level agreement, as the Finance Minister earlier said," Ustenko said.

According to him, negotiations with the IMF are taking place in several areas. In particular, the Finance Ministry is discussing with the Fund the development of the state budget for next year, reducing the budget deficit and debt burden in the coming years.

In addition, at the level of the National Bank, technical consultations are underway with the IMF on monetary policy, institutional strengthening of the central bank, in particular, increasing the independence of the NBU.

Ustenko reminded that President Volodymyr Zelensky, when representing Kyrylo Shevchenko as NBU Governor last summer, stressed the importance of ensuring the independence of this institution.


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