Despite growing attention to the importance of infrastructure to the Ukrainian transition economy, no significant break-through in these industries has yet been observed in Ukraine. The implemented reforms were of a sporadic nature and hit important but often not crucial problems. While the overall reform progress can be evaluated as slightly positive, the interlinks between reformed and still unreformed areas reduce the overall benefit. Thus, during the past six month minor progress in the telecommunications, railway, water and wastewater, and roads sectors was accompanied by a slight deterioration in the power and gas sectors. In general, the most urgent items of reform outlined in the previous issues of IMU remain the same.