European Commission: Ukraine’s Economy is recovering

Еврокомиссия: Экономика Украины восстанавливается

Ukrainian economy is recovering

Ukraine successfully returned to the international financial market.

The European Commission is optimistic about the recovery of Ukraine’s economy and macro-financial policy of the government. This was stated by the Chairman of the European Commission Valdis Dombrovskis after meeting with the Minister of Finance of Ukraine Alexander Danyluk on Wednesday, September 20.

“The Ukrainian economy is recovering, the government is pursuing sound macroeconomic policies and therefore receives substantial financial assistance from international partners, including the EU and the IMF,” – said Dombrovskis.

“Ukraine has emerged from recession, GDP growth reached approximately 2%, and preparing next year’s budget, the government expects to reduce its deficit to 2.5% of GDP. Ukraine successfully returned to the international financial market”, – said the European official.

Dombrovskis said that he discussed with the Ukrainian Minister of the last steps necessary for Kyiv to receive the final tranche of macroeconomic package of 600 million euros. Still have a few obligations that Ukraine must fulfill, including in the sphere of fight against corruption, the establishment of a credit register, removal of certain restrictions of trade.

Danyluk, in turn, noted that the government of Ukraine has scheduled for the coming months, a very intense agenda of reforms that are part of the conditions for receiving macro-economic assistance from international partners. Pension reform, healthcare reform, law on privatization, etc.

According to him, the recent placement of Eurobonds Ukraine was a great success: General market demand exceeded $ 10 billion, indicating that the confidence of international investors to the Ukrainian economy.

The national Bank raised its GDP growth forecast

Earlier it was reported that Ukraine has paid half a billion dollars in Eurobonds.

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