Print

Institute news

  • New issue of Monthly Economic Monitor Ukraine No.1 (171)

    13.01.2015

    In November the industrial output dropped by 16.3% yoy primarily due to military conflict in the East of Ukraine and decline in demand for Ukrainian goods from Russia. Machine building production contracted by 23.6% yoy due to lower domestic demand for investment goods and vehicles as well as decline in demand of Russia for locomotives and railway carriages.

    Highlight: Year 2014 - THE YEAR IN REVIEW

    2014 was the most difficult year for Ukrainian economy in the XXI century. Ukraine faced economic crisis and military conflict in the East, while Russia annexed Crimea. Real GDP is estimated to decline by near 7% in 2014 due to a drop in domestic demand and weak external demand. High economic and political uncertainty resulted in low domestic and foreign investments. Private sector was not able to refinance its debts, which pushed financial account balance into deficit. The Government faced large liquidity gap as assistance from the IMF, the EU and other official donors was mostly used to repay previous debts including to Gazprom. As a result, fiscal expenditures were largely under-financed. At the same time, the authorities (during the year Ukraine received new President, new Government and new Parliament) were slow in implementing reforms in 2014. Still, the Association Agreement with the EU became partly effective in November 2014, defining Ukraine’s commitments on future reforms.

    View the contents of the new issue of MEMU No.1 (171)

Powered by

Activemedia
© 2020
The Institute
for Economic Research
and Policy Consulting
address:
Reytarska 8/5-À,
01054 Kyiv, Ukraine
tel.:
+ 38 044 278-63-42
+ 38 044 278-63-60
fax:
e-mail:
+ 38 044 278-63-36
institute@ier.kyiv.ua
Use of site materials is allowed on condition of reference (for the internet publishing - links) on www.ier.com.ua