Ukraine competes with Moldova for the title of poorest country in Europe
The past year did not become a year of takeoff for the Ukrainian economy, including due to the blockade of Donbass imposed by Kiev.
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Senior researcher at the Atlantic Council in Washington, adjunct professor at Georgetown University Anders Aslund said this in an interview with the Kyiv magazine Focus.
“Contrary to expectations, 2017 did not become a year of takeoff for the Ukrainian economy for two reasons. On the one hand, the situation was affected by the blockade of the occupied Donbass, on the other hand, by unsuccessful judicial reform and, as a consequence, the lack of protection of property rights in Ukraine. This prevented the Ministry of Finance and the National Bank from pursuing macroeconomic policy,” the expert noted.
He also recalled that, according to official data, in 2017 the growth of the Ukrainian economy was minimal, at two percent, and is unlikely to be significantly higher in the new year.
“The Ukrainian economy should achieve a growth rate of 6-8% per year. Instead, Ukraine competes with Moldova to become the poorest country in Europe. If in 2007 Ukraine’s GDP in US dollars was 160% greater than that of Moldova, now the gap has decreased to 8%,” the expert said.
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