Ukraine’s economy lags behind the EU for decades – IMF

Экономика Украины отстает от ЕС на десятилетия – МВФ

Ukrainian economy to catch up with Europe will take a generation, the head of the IMF mission in Kiev Ron van Ore.

Ukraine will take decades to catch up in terms of development with the European countries. This was stated in Washington, the head of a recent mission from the International monetary Fund (IMF) to Kiev Ron van Ore, reports RIA Novosti.

“You need a whole generation (25 years),” he said, answering the question of when Ukraine will be able to reach the level of development of the European economy.

Speaking of grant tranche of Ukraine, Ore noted that the decision of the Fund will be linked to the settlement of the question on the debt of Russia.

“This is always taken into account when deciding, as it is an overdue bond, and we urge both sides to work on finding solutions in the context of the implementation of the program,” he explained.

We will remind, the IMF mission worked in Kyiv from 3 to 17 November. On the results of the Fund stated the failure in combating corruption in Ukraine. IMF urges Ukraine to adopt the joint Fund budget for 2017 and to continue implementing reforms.

The Ministry of Finance: urgent need for IMF money no

Kyiv expects to receive the fourth tranche of financial assistance in the amount of $ 1.3 billion.