Ukraine adopts austerity budget along IMF lines

Community workers demonstrate with garbage bags at City Hall in Kiev on December 20, 2016 to oppose a city developmentUkraine’s parliament on Wednesday approved an austerity federal budget for 2017 that doubles minimum wages but keeps the deficit in line with the target set by the International Monetary Fund. The IMF is keen to see Ukraine keep its deficit to within three percent of gross domestic product (GDP) and reduce Soviet-era subsidies that remain a big financial drain. Prime Minister Volodymyr Groysman told lawmakers that key sectors would still receive the government’s full support.

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