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
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.
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