Ukraine: Strong Growth but Urgent Need for Reforms

摘要

Ukraine, which is still one of the poorest countries in Europe, has shown robust economic growth over the last few years. Real GDP increased by an average 6.6% per annum between 2000 and 2002, and the figures for 2003 will probably show an increase of some 8.5%. Seen in international comparison, Ukraine is thus in a stronger position than Russia, for example, managing to achieve this level of growth even without extraordinary income from lucrative oil and gas exports. In fact, the positive figures are due primarily to other factors, in particular the implementation of the country's first con-sistent economic reforms under the Yushchenko government (in office from the end of 1999 to spring 2001). Sub-sequent governments have proved much less willing to introduce reforms. The prospects for Ukraine would be favourable in the medium term if, following the presidential elections at the end of this year, a policy of reform were once again pursued with determination. Such a development would also benefit economic relations between Germany and Ukraine, especially in the areas of trade and capital transactions.