Contents tagged with Ukrainian Economy

  • Prime Minister Groysman promises a strong Ukrainian economy in five years

    Prime Minister Volodymyr Groysman stated in an interview with Ukrinform that in just two years Ukraine can reduce its debt burden to 50% of its gross domestic product, and in five years the country will have a strong economy.

    While commenting on recent agreements with the International Monetary Fund, the Prime Minister said that Ukraine is already beginning to reduce, rather than increase debts.

    Groysman also spoke about the “balanced and non-deficit” draft state budget for 2019 that he …

  • Head of European Bank of Reconstruction and Development: Corruption prevents bringing Ukrainian economy out of the darkness into light

    Ukraine needs to strengthen its fight against corruption and continue reforms, the President of the European Bank of Reconstruction and Development (EBRD), Suma Chakrabarti, believes.

    "European studies indicate the progress made in Ukraine. According to the American Chamber of Commerce, there are more investments and invertors now in Ukraine than ever, but we must admit: this is still not enough. The country has to do much more to strengthen the rule of law and respect of ownership, as well as …

  • Jaresko: There is a Chance to Avoid Legal Battle over 'Yanukovych's Debt'

    Ukrainian Finance Minister Natalia Jaresko believes that there is still a chance to avoid a legal battle with Russia over the three billion dollar debt, the repayment of which Kiev missed in December, as stated during the World Economic Forum in Davos during an interview with Bloomberg News that was published on January 23rd.

    According to Jaresko, Ukrainian and Russian officials might meet "soon" to discuss the issue.

    Russia bought three billion dollars worth of Ukrainian government bonds at …

  • Ukrainian President: Moscow will not stop us from free trade zone with EU

    The President of Ukraine, Petro Poroshenko, noted that Moscow’s disapproval  of the  free trade zone between Ukraine and the EU will be unsuccessful. He discussed this among other things in an interview with Ukrainian TV channels published December 6.

    "If someone in Kremlin wants us to ask their permission for a free trade zone with EU, it will not happen. We will not give in to any blackmail," the President said and added that the Free Trade Agreement will come into effect starting January 1 2 …

  • Can Ukraine free itself from its dependence on Russian electricity?

    Ukraine is going to continue to import electricity from Russia because the Soviet power system in place does not have the ability to generate sufficient electricity. The Ministry of Energy and Coal Mining stated the import of electricity from the Russian Federation is necessary because, “Electricity is a good which can’t be stored. It has to be generated at the very moment when consumption occurs.” There are several reasons why the current Ukranian system is not able to generate adequate …

  • AP - Ukraine's richest man plays both sides of war's frontline

     KRASNODON, Ukraine (AP) — In this town deep in eastern Ukraine's rebel heartland, about a quarter of the population works in the coal mines owned by billionaire Rinat Akhmetov, Ukraine's richest man. Here and elsewhere in territory controlled by the separatist insurgency, the tycoon keeps the lights on and people clothed and fed, with a mixture of jobs, electricity and aid.

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  • Ukrainian Finance Minister - In 25 years Ukrainian economy will reach the level of Switzerland.

    "The forecast of the International Monetary Fund for Ukrainian annual GDP is 4%. This will allow the Ukrainian economy to reach the level of Switzerland in 25 years." - stated Ukrainian Finance Minister Natalia Yaresko at the cabinet meeting.

    " At this growth rate (4% of real GDP growth) our GDP will rise from the current level of 84 billion dollars to 600 billion in 2040. This is the level of a country like Switzerland."

    The Finance minister said that the agreement reached with the creditors …