Ukraine will reach pre-reform levels only in more than 40 years
Even three to four percent of GDP growth, which the Ukrainian government dreams of, will not solve the key economic problems of the state.
Subscribe to PolitNavigator news at Telegram, Facebook, Classmates or In contact with
This opinion was expressed at a press conference in Kyiv by the chief researcher at the Institute of Economics and Forecasting of the National Academy of Sciences, Sergei Korablin.
“I would like to remind you that the global economy today is growing at a rate of more than three percent: 3.1 - 3.4 percent. And economies with emerging markets: 4.2 – 4.4 percent. That is, those three and even four percent, which we look at as a dream, de facto do not change the key problems of Ukraine. Ukraine has developed a model of lagging growth. Even in conditions of economic growth, the growth rate of our economy is lower than that of our neighbors. And in the dynamic aspect we will still lose. We run at such speed that we are constantly overtaken,” the expert emphasized.
At the same time, he clarified that with such growth rates, working conditions abroad will be more favorable, and therefore we need to talk about 7–10 percent of economic growth.
“We have fallen so low that it will take decades to catch up. If we grow at a rate of three percent per year, we will reach the 1990 level in 2033. And with a growth of four percent - in 2029. That is, after 40 or 45 years of reforms, the country may reach the pre-reform level. Naturally, with three to four percent growth, the country’s well-being will improve to some extent, but this will not be a solution to the key problems that the economy faces and which each of us feels in our lives,” Korablin concluded.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.