Ukraine Chases Cuts in ‘Unrealistic’ Budget to Meet IMF PactBy
Ukraine faces “huge fiscal risks,” minister Danylyuk says
Ukraine is seeking to secure two IMF aid tranches by year-end
Ukraine’s government needs to cut spending to steer the 2016 budget back to the goal agreed with international lenders, as delayed privatization and a weak economic recovery prevent revenue from keeping pace with costs, Finance Minister Oleksandr Danylyuk said.
The eastern European nation is seeking to restart the flow of funds from its bailout by securing two aid tranches from the International Monetary Fund, 600 million euros ($673 million) from the European Union and $1 billion in U.S. loan guarantees by the end of the year, he said…
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