Published November 20, 2020 | Version v1
Journal article Open

The economic policy of Ukraine: realities and prospects

Description

The article examines the state of economic development of Ukraine over the years of independece. After independence, Ukraine experienced a large decline in production. For the first ten years in a row, there was a drop in GDP and a decrease in investment in fixed assets. For all 30 years of independence in terms of GDP, Ukraine belongs to the poorest countries in Europe, the standard of living is lower than in Georgia, Turkmenistan, Belarus. The highest GDP per capita was achieved in 2008. However, the crises of 2009 and 2014. the economy was rolled back, therefore, even with an increase of 3.5-4%, the level of 2008 will be reached only until 2032. According to the results of 2019, the figures are good - GDP is growing by 3.3%, inflation is declining, and the hryvnia has broken all record highs (appreciation against the dollar by 15.5%), but production fell by 15%. Exports of agricultural raw materials and products continue to increase in exports, sales of metal, paper products and industrial wood exported under the guise of firewood are increasing, and the volume of high-tech products is steadily decreasing. Supply prices are specifically lowered to reduce taxes and bring money into offshore areas. Foreign trade is a negative balance of $ 10 billion. In Ukraine there is an extremely unsatisfactory state of industry and infrastructure, and the availability of energy for every consumer is reduced. The growth of the composite index of production of goods and services by main types of economic activity (ECO) decelerated significantly - up to 1.6% as a whole for 2019, and in the last months of the year it even observed its decline.With the advent of the new government in 2019, priorities and measures are put forward measures and bills to overcome corruption in Ukraine, transparency of transactions and public procurement, transparent customs clearance of goods with full clearance of customs authorities from the old staff, property guarantees.

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