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The Ukraine will need 100 years to reach the current economic level of Germany without reform nor current GDP growth rates.
The World Bank Vice President for Europe and Central Asia, Siril Mueller, said that Ukraine needed at least 100 50 years, writes Economic law.
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At the same time, to reach the current level of economic development of the countries of Western Europe such as Germany will require twice as much time – 100 years. In Ukraine, a significant concentration of capital in the hands of a small population group. Thus, the 3 richest Ukrainians own 6% of the country's GDP.
It's almost twice as much as in Russia and three times more than in Poland
– added Muller
In Ukraine, the income ratio of the richest people in GDP is almost non-existent changed since 2007. This limited access to economic opportunities "can fully reveal the potential of human capital".
Limiting the economic development of Ukraine? Several factors: excessive lending, heavy reliance on global commodity markets and early reforms.
What reforms are proposed by the World Bank representatives for Ukraine? The priority is tax reform, improving logistics, as well as lifting the moratorium on land sales. Judicial reform and the reform of the Antimonopoly Committee are very important
The Ukrainian banking system has recorded the largest profits of the last 6 years. It amounted to 21.7 billion hryvnia. In 2017, banks suffered losses of more than 26 billion hryvnia.
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