The economy, stupid!

Ukraine’s economic recovery continues, which is good news for each and every one of us. GDP growth next year is expected to be 3.2%, inflation has fallen by 2%, the USD/UAH exchange rate is basically where it was this time 12 months ago (26.6 today vs 25.6 then), and international investors recently gave the Ukrainian economy a big thumbs up by oversubscribing to a USD 3 billion government bond sale.

On the back of all this, Ukraine’s parliamentarians just passed a law that may pave the way towards finally getting the privatisation of state-owned enterprises underway. What Ukraine really needs now is foreign direct investment, not just because of the cash capital but the human capital that comes along with it. Reasons to be cheerful, a few; reasons to be optimistic, a few more.