OUTPUT AND GROWTH

In 1999 the Ukrainian GDP totaled UAH 127.1 billion (USD 30.7 billion). Compared with the previous year, real GDP fell by 0.4 percent.

INCOME AND EXPENDITURES

During 1999, household incomes grew by 2.2 percent in real terms

GOVERNMENT INCOMES AND EXPENDITURES

The consolidated budget revenues amounted to UAH 32.3 billion in 1999, 94.4 percent of the annual planned figure. Tax revenues showed 97.9 percent execution.

INFLATION

Inflationary pressures were suppressed with price controls until the third quarter. However, in the fourth quarter high inflation returned

EXCHANGE RATE AND MONEY

Since beginning of the year, despite the government assurance in commitment to the tough monetary policy, the volume of money in the Ukrainian economy (M3) increased by about 40 percent

TAX ARREARS

During 1999 the nominal volume of tax arrears grew by 16.2 percent, or by UAH 1.6 billion. Over 40 percent of the total tax arrears comprise fines and penalties.