Ukrainian economy continues its recovery path
Nach einem massiven BIP-Rückgang in 2014/2015 erholt sich die ukrainische Wirtschaft nun: 2016 stieg die Wirtschaftsleistung um 2,3%; 2017 soll das BIP um 2,0% steigen. Ein wichtiger Grund für diese positive Entwicklung sind die gestiegen Investitionen, die ein Zeichen höheren Vertrauens in das Land sind.
This recovery process is accompanied by a general stabilisation trend. The exchange rate has been stable for a considerable amount of time and is now backed by significantly larger foreign exchange reserves. Inflation is still high at currently 15.6%, but will decrease significantly this and next year. Thanks to the fact that the Naftogaz deficit has been eliminated, the budget deficit amounted to only 2.2% of GDP in 2016. However, expenditures for the recovery of the banking sector amounting to 5.4% of GDP are not included in the budget. Nationalising the country’s largest bank was without doubt a necessity.
In spite of these economic policy success stories, economic growth is with a meagre 2% far below potential. The speed of reforms has to be significantly accelerated in order to achieve tangible improvements for the population, thus securing its further support for the reform process.
