Harvesting was hampered by extreme weather conditions in the Black Sea Region this year. Grain production in Russia will most likely not exceed consumption. Total grain production in 2010/11 MY is forecast by the Russian Government at about 60 to 65 million t (87 million t in 2009/10 MY).
Two years after Ukraine’s WTO accession in May 2008, policy makers have once again to take strategic decisions as to future trade policy of the country. It is hard to overestimate the importance of such decisions, since they do not only affect trade flows, but also the speed of structural reforms, an issue of practically same importance as trade itself.
We have already passed the "bottom" of the fall. We will get "plus" in the basic scenario in 2010 despite all the problems. GDP growth will be triggered by the economic activity of the metallurgists, the chemists, and in agriculture.
On August 5 President of Ukraine Victor Yushchenko signed the agrement for the appointment of Mikhail Zurabov as the Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Ukraine. However, already on August 11 in his public address to the President of Ukraine Russian President Dmitriy Medvedev announced his decision to postpone the arrival of Mr.Zurabov to Ukraine "taking into account the anti-Russian course of the Ukrainian leadership".
The global financial crisis has become today a challenge for both national economies and modern system of global and regional economic policy coordination in various fields. The severity and scope of the crisis require politicians and government officials fast and fairly radical actions to minimize the effects of global crisis and create conditions for economic recovery.