IMF: Ukraine’s economy will reach the level of the EU not earlier than 2040
MOSCOW, 6 APR — RIA Novosti. Ukraine’s economy may be close to European standards by 2040, if the level of corruption in the country will fall, says the IMF study.
The organization’s experts warn that the extent of bribery in Ukraine risk undermining the prospects for economic development of the country. The Fund also indicate that addressing this issue is preventing the “concentration of political and economic power in the hands of a small group of people.”
“If Ukraine will not be able to reduce the level of corruption, GDP per capita in 2040 would still be only about 30 percent of the average for the European Union”, — stated in the report.
If the level of corruption in the country will be reduced to the European average, by 2040, the GDP of Ukraine will reach 50 percent of average in the EU.
Earlier, on 3 March, the IMF has allocated Ukraine tranche of financial assistance in the amount of about a billion dollars. The decision was taken despite the scandal with the investigation of embezzlement by the management of the national Bank of the money allocated for the refinancing of commercial banks.