Archive 2001

  • Monthly Economic Monitor Ukraine No.1 (3)

    • In late December, the IMF, in recognition of the Government reform efforts, disbursed a credit tranche of USD 246 m to Ukraine according to the EFF program.
    • 6% yoy GDP increase in 2000 presents the first positive growth record since Ukraine gained independence in 1991. Industrial production grew by 12.9% yoy and agricultural output by 7.6% yoy.
    • The law “On Banks and Banking Activity”, which foresees a differentiated approach to a bank capital, was enacted.
    • Due to favourable world market conditions, the three quarter current account showed a surplus of USD 1.6 bn. A worsening world market situation might hurt Ukrainian exporters.
    • During 11 months of 2000, a Consolidated budget of about 1.5% of GDP was achieved. Social expenditures were higher than in the previous years, state management expenditures remain considerable.
    • During 2000 Hryvnia devalued only by 4.5%. The risk of higher than forecast inflation in 2001 requires to look more closely at real currency appreciation.
    Issue:  No.1 (3) January 2001
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