KYIV. Oct 6 (Interfax-Ukraine) – Ukraine should move towards lifting financial administrative restrictions, taking into account the country’s economic situation, Qimiao Fan, World Bank Country Director for Belarus, Moldova and Ukraine has said.
The World Bank supports the gradual removal of administrative restrictions, he said. Administrative measures are justifiable in the short-term outlook if the economic situation is complicated, however in the long-term outlook they could be inefficient and could distort the market, he said at a presentation of the World Bank’s new Ukraine Macroeconomic Update in Kyiv on Monday.
He said that the decision on lifting administrative restrictions should be made by the Ukrainian government, taking into account the situation in the economy.
The government should monitor the state of the economy, the level of forex reserves and the state of the current account, he said.
