Brussels: Overcoming Ukraine’s Macroeconomic crisis

It must be realized that the current macroeconomic crisis is due to the economic policy within the last 3 years and not the recent protests, Dr. Ricardo Giucci stated during the lunchtalk at Bruegel’s in Brussels.

He explained that the problems Ukraine faces now resulted from 3 main policies during the years 2010-2013. The fixed exchange rate, subsidized energy prices and the expansive fiscal policy have always been key issues in this context, he claimed.

The new Kyiv government cooperates with the IMF and has to implement far-reaching reforms regarding the exchange rate, fiscal consolidation, energy prices and the bank system.

Nadiya Tsok, deputy head of the Ukrainian Mission to the EU, informed about priorities and achievements of the new government.

A vivid discussion took place after the statements raising further questions.
Please see the detailed summary of the event by Bruegel.

Presentation by Giucci “Overcoming Ukraine’s Macroeconomic Crisis»

Please also see our Policy Papers on the topics discussed:

PP/03/2013: “Fiscal consolidation in Ukraine: Why it is needed and how to do it” »

PP/01/2013: “The impact of exchange rate changes on imports of capital and
high-tech goods: A quantitative assessment” »

PP/05/2012: “Towards a sustainable and growth supportive FX policy in Ukraine” »

PP/02/2012: “Adjusting gas prices to unlock Ukraine’s economic potential” »

PP/02/2011: “The Banking Sector in Ukraine: Past Developments and Future Challenges” »