Ukraine's Parliament Passes 2017 Budget, Possibly Freeing Up IMF Loans
Ukraine's parliament has approved a budget for 2017, raising its chances of securing more aid from the International Monetary Fund under a $17.5 billion loan package.
The document approved by 274 to 226 on December 21 keeps the budget deficit at 3 percent of gross domestic product, in line with the IMF's guidelines.
Legislators had intended to pass the budget weeks ago. Delays in approving it have held up the disbursement of another $1.3 billion loan, causing foreign exchange reserves to fall below the central bank's target.
The IMF and other international backers have propped up Ukraine's economy since the country plunged into turmoil in 2014 following Russia's annexation of Crimea and the outbreak of a separatist war in the east.
Finance Minister Oleksandr Danylyuk called the new budget "realistic" and said it was needed to give momentum to economic reform. The budget projects economic growth of 3 percent next year, up from 1 percent in 2016.
The IMF said last month that to secure more loans, Ukraine needed to pass a suitable budget and step up efforts to fight corruption -- including by jailing crooked officials.
Based on reporting by Reuters and TASS
We are now closing the live blog for today, but we'll leave you with this heads-up on a report that is being published tomorrow that could make waves.
As usual, we'll be back in the morning to follow all the latest developments. Until then, you can keep up with all our other Ukraine coverage here.
Here's an excerpt from the article linked to in the tweet:
Booking.com hotel booking service makes the reservation process for temporarily occupied territory of Crimea available only for those who do not travel for leisure purposes, the company's press service has said.
"In order to avoid any misunderstanding regarding Booking.com's position in doing business with Crimea properties (which is not prohibited), Booking.com has (on a voluntary basis) adjusted its website and the reservation process to make sure that those who wish to make a reservation with a Crimea property can only do this if they do not travel for leisure purposes," the press service of Booking.com said in response to an inquiry of Interfax-Ukraine.