The high level of corruption costs Ukraine a 2%-per-cent growth of GDP per year, IMF Resident Representative in Ukraine Gosta Ljungman has said.
He presented the latest update of the European Regional Economic Outlook in Kyiv this morning.
A full video of his speech in English is available below.
“Our assessment of the cost of corruption is that it reduces GDP growth by about 2% per year compared to European countries. So, if Ukraine could bring down corruption to the average European level, its GDP would grow by 5% rather than 3%," Ljungman said.
Ljungman was appointed the IMF Resident Representative in Ukraine in summer 2017.