Date: 2 months ago   Category: Economy

The World Bank predicted to Ukraine hundred years of lag from neighbors - RIA Novosti, 12.10.2018


The headquarters of the World Bank in Washington. Archival photo
MOSCOW, 12 Oct — RIA Novosti. At present growth rates of GDP Ukraine needs hundred more years to catch up with the neighboring European countries, the regional director of the World Bank for Ukraine, Belarus and Moldova Satu Kakhkonen in an interview to the Ekonomicheskaya Pravda edition.© said AP Photo/Efrem Lukatsky the Most gloomy prospects: what will be with Ukraine in new the goduona noted that Kiev still did not overcome a consequence of crisis of previous years. "Income is per capita still lower, than the corresponding indicators of 2014-2015" — the expert said. According to Kakhkonen, there is a risk that reforms in the country will stop because of elections or at all "will be developed to the opposite side". The Ukrainian economy after the events of 2014 is in decline: key industries do not develop, work of the largest plants stops. Kiev tries to undertake economic reforms, takes the credits from the IMF that as a result affects welfare of citizens: utility tariffs continue to grow, and salaries and pensions still at a low level. The situation also worsens because of the unprecedented level of corruption, growth of the shadow sector, a rupture of the economic relations with Russia and policy for Donbass. The external debt of Ukraine grew for the 2016-2017th by 18,9 and 10,9 percent respectively, and in only five years — since the beginning of 2013 prior to the beginning of the 2018th — the national debt relation to GDP almost doubled: from 36,6 to 71,8 percent. As the head of the mission of the International Monetary Fund Ron van Ruden said, the Ukrainian economy will need the whole generation to catch up with Europe. In turn, the former governor of Odessa region Mikheil Saakashvili noted that under favorable conditions Ukraine will reach the level of 2013 only twenty years again later.

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