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  • IMF engages in revision of indicators of trade balance and GDP growth analyzing consequences of the energy blockade, says Volodymyr Groysman
    posted 21 March 2017 00:07

    The International Monetary Fund is to assess in particular indicators of trade balance and GDP growth due to the negative impact of the energy blockade. Prime Minister of Ukraine Volodymyr Groysman stated on air of the ICTV television channel on Monday.

    “We put in a great deal of efforts to obtain a 1.7 billion tranche from the International Monetary Fund and the European Commission in dollars which shall be used to replenish foreign exchange reserves of the country as well as to fulfill all obligations undertaken by Ukraine. It was a right step”, underlined Head of the Government.

    He noted the meeting of the IMF Board of Directors scheduled for March 20 had been postponed due to the need to recalculate the aforesaid data.

    The blockade in the energy and economy sectors is expected to negatively affect foreign exchange earnings, the trade balance of the country as well as the growth of the GDP, stressed Volodymyr Groysman.

    “Referring to the correction, it is of utmost importance to update the economic growth, we must analyze the situation with foreign exchange earnings and with employment rate”, said the Prime Minister.

    Speaking about the economic repercussions of the blockade, the Prime Minister noted the Government along with representatives of the IMF was engaged in revising macroeconomic forecasts.