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IMF: Ukraine loses 2% of GDP on corruption

Josta Lyungman called for the creation of an anti-corruption court.

IMF: Ukraine loses 2% of GDP on corruption
Josta Lyngman
Photo: Photo: minfin.com.ua

Permanent Representative of the International Monetary Fund in Ukraine Josta Lyungman says corruption costs Ukraine 2% of GDP every year.

"Ukraine does not conduct a consistent fight against corruption. Corruption costs Ukraine 2% of economy growth, therefore, the fight against it is a matter of economic prosperity," Lyungman told the 8th Ukrainian Investment Forum in Kyiv on Friday, 3 November.

He reminded that the next important step in this sector should be the creation of an anti-corruption court, which is one of key requirements for obtaining the next IMF tranche by Ukraine.

According to the forecasts of the NBU, Ukraine's GDP will grow 2.2% in 2017.