Called the causes of slow growth of the economy of Ukraine


Last year the main economic achievements of Ukraine were macroeconomic stability and low budget deficit. Photo: New Times

By carrying out all necessary reforms, Ukraine could have a 6-8% economic growth per year. However, in 2018, we should expect only 3%.

“If the economy is growing annually by 7%, after ten years, the GDP of the country doubled. In this case, the salary of Ukrainians in dollar terms will double,” – said the analyst with the Atlantic Council and Professor at Georgetown University Anders Åslund, writes “Economic truth”.

The expert believes that in the past year, the main economic achievements of Ukraine were macroeconomic stability and low budget deficit. However, he remembered the failure with the establishment of the Anticorruption court and the unsuccessful judicial reform.

“The anti-corruption court does not meet the criteria of the IMF and obligations of Ukraine. Because the process of election of judges under this bill will not be independent and devoid of corruption. In addition, judges will choose to corrupt themselves. Therefore, qualified judges in this court will be few and the competence of the court is irrelevant,” said Anders Aslund.

The expert added that now nothing is happening to remedy the situation. Therefore, foreign investors are reluctant to invest in Ukraine.

“Today, the level of foreign direct investment is about 18% of GDP. However could be at the level of 25-30% of GDP,” concluded Anders åslund.

The world Bank predicts growth of the gross domestic product of Ukraine to 2% by the end of 2017. It is expected that within three years the figure will grow to 3.5-4%.

In 2007, a world economic crisis, Ukraine’s GDP amounted to $142 billion In 2013 to $183 billion In 2016 – $93 billion

The index of Ukraine’s GDP per capita for 2016 is $2.1 million, Poland – $12.3 thousand, Belarus – $4.9 thousand

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