http://www.worldbank.org/en/news/pre...ercent-or-more
http://pubdocs.worldbank.org/en/9941...er-2017-en.pdf
Ukraine Economic Update: Fall 2017
Citat:
• The economy grew modestly at 2.4 percent in the first half of 2017 and poverty remains higher than pre-crisis levels.
• Boosting economic growth to 4 percent or more in the next two years is critical to reduce poverty and improve living standards for the population. This will require progress on an ambitious package of reforms, including in land markets, financial sector, anticorruption, and privatization, to stimulate investment and productivity.
• Despite higher revenues, the fiscal deficit is projected to widen to 3.5 percent of GDP in 2017 due to higher public sector wages and spending on social programs. Reducing the fiscal deficit in 2018 and beyond will require adopting responsible pension reform and implementing education and health reform in a manner that improves the quality of services while optimizing the school and hospital network.
Citat:
Economic growth remains modest due to the unfinished structural reform agenda and headwinds from the conflict in eastern Ukraine. Real GDP grew by 2.4 percent (y-o-y) in the first half of 2017, following growth of 2.3 percent in 2016. While the resumption of growth is a positive development, this is a weak recovery since it follows a cumulative 16 percent contraction in 2014 and 2015. Even key sectors exhibiting relative strength, such as manufacturing, trade services, and transport continued to grow at a modest pace—3.7, 3.5, and 4.4 percent, respectively—in the first half of 2017, which is insufficient to drive stronger growth in the overall economy. The mining and utility sectors contracted by 6.6 percent and 5.5 percent, respectively, due to the trade blockade against uncontrolled areas of the Donbas region, which affected coal, steel, and electricity production. On the other hand, construction and fixed investment continued to exhibit strong growth in the first half of 2017—at 26 and 22 percent, respectively—pointing toward strengthening investor confidence in some areas, although both remain down sharply from pre-crisis levels. Merchandise exports grew by 23 percent in the first half of 2017, mostly due to improving commodity prices, after declining by 13 percent in 2016. Broader and stronger investment and economic growth will require further progress on the unfinished reform agenda.
Citat:
Poverty remains significantly higher than pre-crisis levels and faster economic growth is critical to reduce poverty going forward. Moderate poverty (World Bank’s national methodology for Ukraine) in 2016 is estimated at 26.5 percent, down slightly from 27.5 percent in 2015, but up sharply from 14.1 percent in 2013. The poverty rate (under $5.5/day in 2011 PPP) in 2016 is estimated at 7 percent, up sharply from 3.3 percent in 2013. Disposal incomes contracted sharply in real terms in 2015 due to the deep recession and unsustainable social benefits. The average real wage was down 30 percent in January 2016 compared to pre-crisis levels, but increased 17 percent in July 2017 compared to a year earlier due to the increases in public sector salaries and the minimum wage.
Citat:
Fiscal expenditures and revenues grew strongly in the first half of 2017, with the supplementary budget adding to expenditure pressures for the rest of the year. In 2016, the fiscal deficit widened to 2.2 percent of GDP due to lower social security contributions, despite expenditure restraint and growth of other revenues.
Citat:
Outlook
The growth projection for 2017 remains modest at 2 percent, but progress on the ambitious package of reforms under consideration could accelerate growth to 4 percent or more going forward. The growth outlook is affected by two key factors. First, Ukraine faces continued headwinds from the conflict in the Donbas region, as evidenced by the coal and trade blockade with the uncontrolled areas. Second, the authorities have been working on an ambitious package of reforms to address structural bottlenecks and advance growth prospects. The next few months are a critical window of opportunity within which to lock in these important reforms. Establishing a transparent market for land transactions would enable Ukraine to tap its vast potential for agricultural exports. Strengthening the governance of state-owned banks and putting in place measures to streamline resolution of non-performing loans (NPLs) would enable a gradual resumption of lending to the private sector. Deeper anticorruption reforms, further improvements to the business environment, and progress on privatization would strengthen investor confidence and attract foreign investment. Locking in these reforms in the next few months could raise growth to 4 percent or more in the next two years. This growth outlook is subject to serious risks, including challenges associated with advancing reforms in a complex political environment, and risks associated with an escalation of the conflict or a deterioration in the external environment.
Intressant att världsbanken frekvent jämför med pre-crisis (a.k.a. pre-majdan). Det vet alltså inte att det orättvist och att man måste jämföra med krisens absoluta botten
Annars håller de ju med mig. Upprepande.
1 Återhämtningen är blygsam.
2 Fattigdomen är fortfarande skyhög.
3 Donbass-blockaden var idiotiskt (min analys är att Poroshenko lugnar ner de mest extrema på så sätt).
4 Framtiden är försiktigt positiv om man levererar reformerna och avslutar kriget.
Och man levererar ju. Igår röstade man igenom pensionsreformen. Jag vet inte hur den ser ut, men här är världsbankens förslag/highlights från April 2017
http://www.worldbank.org/en/news/opi...krainian-today
Kort sagt: Ukraina betalar för mycket. Och det stämmer ju (gäller även Ryssland), men jag är väldigt skeptiskt till att tajmingen är rätt. Mitt under krisen när arbetslösheten skenar?