Ukraine continues to advance on its recovery path, but progress across different areas has been uneven. Weak GDP growth remains the key issue – household and investment demand is being held back by material post-crisis effects, and accelerating the pace of recovery will remain the key agenda item for authorities in the months ahead. Meanwhile, risks related to the external sector have subsided and the FX market is enjoying a period of calm. Given the noticeable progress, we could see a full withdrawal of all FX-market administrative restrictions, which were introduced at the height of the crisis, by the end of 2016.

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