The forecast for the Ukrainian economic growths

18 Apr 2014

The Minister for Economic Development and Trade Pavel Sheremeta asserts the stabilization in the currency market of Ukraine will be possible only after receiving external finance, – reports Gazeta.ua.

"If it comes to the foreign exchange market, we are expecting that the funds the international financial organizations are going to allocate will stabilize the currency market", - Mr. Sheremeta said.

He has also forecasted the decrease in GDP by more than 3% in 2014. "In 2014 the GDP will likely drop by more than 3%, we’ll get the price hike in the consumer market and other factors will had a negative impact on the economy. The growth of GDP will be able to move at pace it has had before only by the end of 2014 – beginning of 2015, in case the reforms are carried out", - Mr. Sheremeta underlined.

According to Mr. Sheremeta, in two or three years Ukraine can be inside the top ten in the Doing business’ ranking. He reminded today Ukraine holds the 112 position, and the government thinks it is a deplorable fact.

According to the Minister, business overregulation in Ukraine was a cause for economic complexities, adding that once the alterations are entered to the legislation, the situation will fundamentally change. "We also want to emphasize that it should be much cheaper to start up and run a business in Ukraine – to operate in the Ukrainian market now is too expensive ", – he said.

Mr. Sheremeta added running a business will be easier and less expensive if corruption is eliminated.