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 Ukrainian economy will return to level of 2014 not earlier than in 2018 according to the most optimistic scenario – Presidential Administration

The economy and, consequently, the incomes of citizens will reach last year's level not earlier than in 2018 even under the most optimistic scenario.

Presidential administration deputy head on administrative, social and economic reforms Dmytro Shymkiv said, Censor.NET reports citing UNIAN.

According to the him, the incomes of the Ukrainians decreased to the level of February 2005 with respect to foreign currency because of recent hryvnia slump.

Read also: Ukraine has been in recession for nine quarters. After the crisis, the economy will still grow by only 3% per year - Finance Minister

"Three years are necessary for stabilization. The decline should be stopped during the first year. Then the rise and stimulation of the economy should be arranged within the next two," Shymkiv said.

This plan on restoration of Ukraine envisages that the country will make a major breakthrough by 2020, reaching the level of GDP per capita comparable to today's of Bulgaria, doubling the current Ukrainian one. The next goal will be to "catch up and leave behind" Poland during the following five years.

Read also: Plan for currency market stabilization elaborated - Presidential Administration

However, the experts assure that the plan is too ambitious, because international practice and experience of states-reformers shows that, perhaps, only miracle will help to climb out within ten years from the "jam", which Ukraine turned out to be in not to mention reaching the level of Poland.

"It will be a miracle. Not the economical miracle but political and economical one," Timofiy Mylovanov, PhD, University of Pittsburgh, the member of editorial board of VoxUkraine assured.

 
 
 
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