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The Ukrainian economy has grown strongly since 2000, supported by a robust international environment, stabilizing macroeconomic policies, including the de facto currency peg to the dollar and low fiscal deficits, as well as significant structural reforms. By many measures, Ukraine has also become better insulated against shocks. Reserves have increased substantially and now cover 170 percent of short-term debt or four months of imports. The underlying fiscal position is strong: government debt is only about 10 percent of GDP, and the deficit, if maintained at the present level, would ensure fiscal sustainability under a wide range of scenarios.

The financial sector as a whole appears to be well capitalized and profitable, and has been strengthened by the increasing importance of foreign banks. WTO accession and the negotiations for an EU trade agreement should spur structural reform efforts.

 

From Preliminary Conclusions of IMF Staff Mission to Ukraine

Kyiv, March 31, 2008

 

macroeconomic indicators 2001-2007

Indicators

2001

2002

2003

2004

2005

2006

2007

Gross domestic product, UAH million

204190

225810

267344

345113

441452

544153

 

Capital investment, UAH million

32573

37178

51011

75714

93096

125253.7

 

Volume of services, UAH million

37822

46400

56121

72933

92013

116351

137515

Income of population, UAH million

109391

185073

215672

274241

381404

472061

625868

Expenditures and savings of population, UAH million

102835

185073

215672

274241

381404

472061

625868

Producer price index (industry), % to December of the previous year

106.1

99.4

108.2

112.3

110.3

111.6

116.6

Unemployment level (end of period), %

3.68

3.7

3.5

3.5

3.1

2.7

2.3

Export of goods and services, U.S. dollar million

21086

23351

28953

41291

44378

50239

 

Import of goods and services, U.S. dollar million

20473

21494

27665

36313

43707

53307

 

 

Source: State Committee on Statistics data

 


 

 

WTO welcomes Ukraine as a new member

 

The General Council paved the way for Ukraine’s membership in the WTO by approving its accession terms on 5 February 2008.

applied for WTO membership in 1993, and the Working Party concluded the negotiations on 25 January 2008 under the chairmanship of Chile’s Ambassador Mario Matus. The General Council approved the Working Party report, the market access schedules on goods and services, the General Council Decision and the Protocol of Accession.

Ukraine informed the WTO on 16 April 2008 of its acceptance of its membership agreement. Membership will be effective 30 days after the acceptance of its membership terms so Ukraine will become the WTO’s 152th member on 16 May 2008.

“Ukraine’s WTO membership will strengthen the multilateral trading system and provide this country with a stable and predictable trade environment that will boost its growth and prosperity.” declared Director-General Pascal Lamy.

Source: www.wto.org

 


 

Direct investments of EU countries to Ukraine's economics makes USD 22.9 billion as of January 1, 2008, equal to 77.8 percent of total investments volume to Ukraine - State Statistics Committee

A volume of direct investments from the EU countries to Ukraine's economics totals USD 22.9 billion as of January 1, 2008, equal to 77.8 percent of the total investments volume to Ukraine (USD 16.3 billion as of January 1, 2007), the State Statistics Committee reported.

DIRECT FOREIGN INVESTMENTS TO UKRAINE




Main investor countries with more than 80 percent of the total investments volume from the EU are Cyprus - USD 5,948.8 billion (25.9 percent of the total investments volume from the EU countries), Germany - USD 5,917.9 billion (25.8 percent), the Netherlands - USD 2,511.2 billion (10.9 percent), Austria - USD 2,075.2 billion (9.0 percent) and Great Britain - USD 1,968.8 billion (8.6 percent).

DIRECT FOREIGN INVESTMENTS TO UKRAINE




Large volumes of direct investments from the EU countries are concentrated in industrial enterprises, processing industries, metallurgy; food industry (foodstuffs, beverages, tobacco production). Non-residents also invest in finance and real estate sectors, renting, engineering, rendering services to entrepreneurs.

Source

State Committee on Statistics





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