Ukraine: 2016 Article IV Consultation and third review under the Extended Arrangement, Requests for a Waiver of Non-Observance of a Performance Criterion, Waiver of Applicability, Rephasing of Access and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Ukraine
Journal: IMF Staff Country Reports
Year: 2017

Following a severe crisis in 2014-15, the economy is growing again-by 2.3 percent in 2016and the flexible exchange rate and tight fiscal and monetary policies have greatly reduced internal and external imbalances. The current account deficit fell sharply, from over 9 percent of GDP in 2013 to 3.6 percent of GDP in 2016 and reserves-while still low-have doubled to US$15 billion. The overall fiscal deficit-including the energy sector's quasi-fiscal losseswhich had increased to 10 percent of GDP in