Ukraine presents the G7 financial block with its economic prospects, which the IMF assesses positively.

Ukraine’s economy is showing stability during the current year, and GDP growth is forecast to be 4.7%, said Finance Minister Serhiy Marchenko. “Inflation is falling faster than expected: 7.1% in September 2023 from 26.6% in 2022. The domestic borrowing has exceeded forecasts and reached more than $11B since the beginning of the year,” he added.

In addition, Marchenko said that the 2024 budget will allocate maximum resources for the security and defense sector and the development of the domestic defense industry.

In its turn, the IMF expects that Ukraine’s GDP will demonstrate growth dynamics in the coming months and exceed forecasts due to efforts to stabilize macroeconomics and restore economic activity, said Alfred Kammer, director of the European Department of the IMF.

The IMF representative expressed confidence that Ukraine’s $115B international support package will move forward over the next four years, as promised by the fund.