14 Reforming Ukraine’s Social Safety Nets: Short-Term and Medium-Term Options
Author:
Mr. Sanjeev Gupta
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Language:
English
Print Publication Date:
15 Apr 1998
Keywords:
BOOK; government; price; wage bill; retirement age; price effect; ESAF program; transition country; Income; Pension spending; Social assistance spending; Wages; Personal income; Eastern Europe; Baltics; Africa; Sub-Saharan Africa; Middle East; East Asia

Abstract

Ukraine has experienced severe economic dislocations since its independence in 1991, following the breakup of the Baltics, Russia, and other countries of the former Soviet Union. High inflation and large declines in real wages and output have imposed severe economic and social hardship on the population, particularly on the vulnerable groups (Table 14.1). Beginning in October 1994, the authorities intensified their economic reform efforts, resulting in a slowdown of the decline in real GDP and a reduction in monthly rates of inflation. In 1995, the consolidated budget deficit fell to 5.0 percent of GDP, from 8.2 percent of GDP in 1994. The authorities’ economic reform program for 1996 aims at a further reduction of the fiscal deficit, to 3.5 percent of GDP, and includes, inter alia, measures to accelerate the privatization of enterprises and to increase the cost recovery ratios for housing and communal services.

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Cover Social Safety Nets
Social Safety Nets
Issues and Recent Experience
ISBN:
9781557756800
Publication Date:
15 Apr 1998
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557756800.071
Pages:
275

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