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Financial Markets Degradation Has Hit the Ukraine`s Competitiveness

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CASE Ukraine`s Senior Economist Volodymyr Dubrovsky commented to the LB.ua outlet on Ukraine`s six step loss in the ‘Global Competitiveness Index 2016-2017’, which was presented at the Davos Economic Forum.

… ‘The findings are not really changing during the time of monitoring of the Global Competitiveness Index. Despite the poverty, Ukraine holds a very good position in the innovation environment, but it is dragged down by market institutions, which are unable to ensure the investment attractiveness. So we cannot embody the benefits that are in the country’, CASE Ukraine`s Senior Economist Volodymyr Dubrovsky says.

Mr. Dubrovsky administers the WEF survey in Ukraine.

‘Macroeconomics are an important factor of Ukraine`s backsliding global competitiveness. The ranking calculates the last year`s macroeconomic indicators. In Ukraine, there has been a great economic recession and high inflation, which, in fact, determined the position`s drop. But I note that the macroeconomic indicators tend to change very quickly’, Volodymyr Dubrovsky explains.

‘In all the previous years the survey`s results have not particularly affected the investment climate. For example, Doing Business report is widely adopted. Someone makes efforts to improve the country’s position in this ranking, but the development of the investment environment is not observed. Perhaps later the ratings will play a role, but so far they cannot cope with that. In general, Global competitiveness index is a mirror in which, first of all, should look the country’s leadership’, Volodymyr Dubrovsky says.

February 2, 2017