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Ukrainian MPs pass 2019 state budget and unlock USD 3.9 billion IMF support

Ukrainian MPs pass 2019 state budget and unlock USD 3.9 billion IMF support

The Ukrainian parliament passed the 2019 state budget on 23 November – more than a month before the deadline and without the last minute politicking that has become something of a national tradition.

The 2019 budget is reportedly in line with IMF expectations and should now allow Ukraine to secure a resumption of IMF financing of up to USD 3.9 billion that could prove crucial during the coming year of national elections and debt repayment obligations. Ukrainian officials hope to receive an IMF tranche as soon as December, which would also pave the way for access to further financing from the World Bank and the European Union.

Ukraine will hold presidential and parliamentary votes in 2019, while the country will also face a peak in repayments of long-term government loans during the course of the year. If confirmed, analysts expect renewed IMF cooperation to ensure a stable Ukrainian investment and business environment over the coming 12 months.