Ukraine

Original publisher: Washington : U.S. G.P.O. : For sale by the Supt. of Docs., U.S. G.P.O., 2005. LC Number: KF27 .I54917 2005g OCLC Number: (OCoLC)62705427 Subject: Ukraine -- Economic conditions -- 1991-. Excerpt: ... 11 Some of these interventionist policies may seem attractive to the Ukrainian gov-ernment as it seeks to strengthen its popular support in advance of the 2006 par-liamentary elections. But we are urging the Ukrainian government to consider the consequences of adopting measures that may be popular in the short term but that, if continued and unaccompanied by strong pro-growth policies, would fuel inflation, reduce macroeconomic stability, and undermine sustainable growth. Such a set of policies would jeopardize key Ukrainian objectives, such as joining the WTO, at-tracting foreign investment, and obtaining Market Economy Status. In the long term, the tested free market reforms, including the proper regulatory functions of a modern state in a free market that we have witnessed elsewhere, are what will boost the Ukrainian people's prosperity, not short-term populist policies. I detect from my recent visit to Kiev that senior Ukrainian officials recognize that they have had a rough initial period on economic policy, and are committed to get-ting reforms on track. In fact, in many of the areas I have cited, we have seen ques-tionable decisions followed by a course correction. As the Ukrainian government gains its footing, we hope it will move forward decisively to implement the economic reforms so vital to achieving their vision of Ukraine. In fact, the approach of key markers, such as WTO Hong Kong Ministerial in De-cember does seem to be focusing minds. The Ukrainian government had been slow in making progress to pass important WTO-related legislation. The absence of amendments strengthening the law against media piracy, as well as continued high tariffs and arbitrary sanitary regulations on poultry and agriculture products had been an impediment...