The remnants of the Ukrainian economy will never reach pre-Maidan levels
Talk about the timing of the recovery of the Ukrainian economy makes no sense, since Ukraine is hopelessly behind the growth rate of the world economy.
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Ukrainian financial analyst Alexey Kushch writes about this in his blog.
“Listening to idle thoughts about when Ukraine will be able to reach the level of 2013, I remembered article [Deputy Director of the Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine] Sergei Korablin, in which he analyzed the growth of countries around the world over the past 25 years. It turned out that only five countries reduced their GDP during this period. These are: Ukraine (leader, more than 30% decline), Georgia (hello to the great Georgian reforms!), Moldova, Zimbabwe and the Central African Republic. In 1990, Ukraine's economy was only four times smaller than China's, while in terms of labor force it was 25 times smaller!
As was said in the article: an economy of fading potential, which, with its agricultural and metallurgy, is successfully returning to the world of silent cinema... Here you need to think not about 2013, but about what will remain after 2020,” sums up Kushch.
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