Good news on the financial front, well, on the surface anyway. The World Bank predicts that Ukraine’s GDP growth in 2018 could hit the 3.5% mark. That’s a respectable number as we look around and make comparisons to the slow but steady GDP growth figures seen in neighbouring countries to the west.
But, the announcement comes with the inevitable caveats Ukraine watchers are used to. This figure will only be reached if we see more movement in pending anti-corruption reforms and press ahead with land market reform and privitisation of state-owned assets, including some state-owned banks. So, GDP growth could be impressive if – is basically the message.
As has been noted on these pages in the past, Ukraine’s GDP per capita is a paltry 2 200 USD. Whereas the respective figure for Poland is 12 400 USD. Starting from such a low base point, if Ukraine were to press ahead with the aforementioned reforms, and fix rule of law issues to attracts more foreign investment, then Ukraine could actually see much higher and far more impressive growth numbers.
In other economic news, inflation is falling. For the first time since September 2016 this key indicator of economic health dropped into single digits.
Ukraine recently sold 270 million USD worth of short-term bonds, adding much-needed liquidity to the nation’s coffers. The big deal here is that these short-term bonds were placed at a price of just 5.52% annualised return for the three-month bonds, and 5.89% for the six-month version. If we go back just a few years, international […]
In the days between writing this news and it being published, there exists a very real possibility that Oleg Sentsov will die. At the time of writing, Sensov has been on a hunger strike in a Russian jail for 90 days. In public statements, relatives of Sentsov have said his time is nearly at an […]
An impressive feat was accomplished in the skies above Kharkiv, eastern Ukraine, recently. A group of women from 19 different countries descended on the country (see what we did there?) to pull off a world record attempt, and they succeeded! In order to beat the previous world record for a female synchronised dive, which included […]
In recent years many Ukrainians have sought work overseas. There are many reasons why they have done so, but the biggest motivator is simply financial. Wages for fruit pickers or building site labourers are higher in Poland than they are in Ukraine and working conditions (which are protected by the EU) are no doubt also […]