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EBA: business community appreciates steps supporting macroeconomic stability

29/ 08/ 2018
  Macroeconomic stability is an important condition for business development in the country, crucial for Ukraines economic growth and investment attraction. One of the key economic indicators is the level of deficit of the state budget. To manage public debt, the Government has developed a Strategy, which is being implemented by the Ministry of Finance of Ukraine. Thus, within the framework of the Strategy, a private placement of $725 million of short-term external government bonds was made, maturing in 2019. The business community appreciates the steps taken by the Government and the Ministry of Finance to protect the macroeconomic balance in Ukraine, taking into account the instability of some developing countries on the international capital markets. Anna Derevyanko. the Executive Director of the European Business Association. Control over the budget deficit is one of the steps set out in the IMF program. I hope, debt management will help to raise the level of trust in the country among Ukrainian and international investors. At the same time, land reform, fighting corruption and reducing the shadow economy are needed and these points are also mentioned in the program. An IMF mission will come to Kyiv on September 6, which is a positive indicator for the country. The Ukrainian authorities face a difficult task to conduct constructive negotiations. It is critically important to fulfill the conditions concerning the gas price. For some, it may seem an unpopular step but still I’m sure the Government and the Ministry of Finance are doing their best to offer an optimal formula for this price and to fulfill international obligations. We support them in these important discussions for Ukraine’s long-term economic stability, - she added. Tomas Fiala. the President of the European Business Association. We hope that the IMF mission visit will finish with an agreement on another credit tranche. Besides, Ukraine will meet the conditions for a loan of $800 million from the World Bank and macro-financial assistance of €500 million from the EU. We remind that on July 12 the press conference was held where the business community highlighted the importance of unlocking the IMF tranche and related financing for Ukraine.

Macroeconomic stability is an important condition for business development in the country, crucial for Ukraine’s economic growth and investment attraction. One of the key economic indicators is the level of deficit of the state budget.

To manage public debt, the Government has developed a Strategy, which is being implemented by the Ministry of Finance of Ukraine. Thus, within the framework of the Strategy, a private placement of $725 million of short-term external government bonds was made, maturing in 2019.

The business community appreciates the steps taken by the Government and the Ministry of Finance to protect the macroeconomic balance in Ukraine, taking into account the instability of some developing countries on the international capital markets.

Anna Derevyanko the Executive Director of the European Business Association
Control over the budget deficit is one of the steps set out in the IMF program. I hope, debt management will help to raise the level of trust in the country among Ukrainian and international investors. At the same time, land reform, fighting corruption and reducing the shadow economy are needed and these points are also mentioned in the program.

An IMF mission will come to Kyiv on September 6, which is a positive indicator for the country. “The Ukrainian authorities face a difficult task to conduct constructive negotiations. It is critically important to fulfill the conditions concerning the gas price. For some, it may seem an unpopular step but still I’m sure the Government and the Ministry of Finance are doing their best to offer an optimal formula for this price and to fulfill international obligations. We support them in these important discussions for Ukraine’s long-term economic stability”, – she added.

Tomas Fiala the President of the European Business Association
We hope that the IMF mission visit will finish with an agreement on another credit tranche. Besides, Ukraine will meet the conditions for a loan of $800 million from the World Bank and macro-financial assistance of €500 million from the EU.

We remind that on July 12 the press conference was held where the business community highlighted the importance of unlocking the IMF tranche and related financing for Ukraine.

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