Oil exports amounted to 44 million tonnes in the first eight months of this year. Production of oil products exceeded 8.3 million tonnes, 2 percent up from January-August last year.

Inflation has exceeded the central bank’s 3 percent target for several months. Annual price growth was a record high of 12.8 percent in August, up from 11.9 percent in July.

Central Bank, which has revised its economic growth forecast to 4.6 percent from 3 percent in June, said that two main drivers of the higher growth would expand more rapidly this year than it was projected earlier.

The IMF agreed a $5 billion standby arrangement with Ukraine in June 2020 and an initial tranche of $2.1 billion was rapidly disbursed.