Miklos predicts pre-crisis GDP growth, subject to reforms
A steady 6-7% annual growth is possible.
Co-Chair of advisers on strategic reform group Ivan Miklos said that Ukraine's economy will grow 6-7% a year soon, provided reforms are implemented.
"In the case of implementation of reforms, Ukraine in a year or two, maximum three years – will be able to achieve a permanent and stable GDP growth at 6-7% per annum. This is quite possible. The Baltic countries, Slovakia, Georgia did that... An efficient and effective process of improvement is quite realistic," he said at a round table conference in Kyiv as quoted by UNIAN.
In this regard, critically important are all reforms in the business environment, investment, industrial restructuring and privatization.
Ukraine's GDP grew rapidly before the crisis in 2008 due to high metal prices, but then followed the crises of 2008-2009 and 2013-2015, which drastically slowed the economy.
Currently, Ukraine sees only a minimum GDP growth of about 1 to 1.5 percent.