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Ukraine’s economy can reach level of Poland in 15 years, - business ombudsman

Source : 112 Ukraine

In his view, in order to accelerate economic growth, we must seek the independence of the courts, the eradication of corruption and the implementation of the Association Agreement with the EU
13:38, 9 January 2020

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Business Ombudsman, current member of the Polish Parliament Marcin Svenczycki believes that, under certain conditions, Ukraine's economy could reach Poland's level in 15 years. He stated this in an interview with RBC-Ukraine.

In particular, Svenczyckski is convinced that Ukraine can reach the level of Poland faster than the World Bank predicts. It should be noted that the World Bank estimated that the current growth of the Ukrainian economy will allow the country to catch up with Poland only in 50 years.

At the same time, the business ombudsman stressed that in order to accelerate economic growth, we must seek the independence of the courts, the eradication of corruption and the implementation of the Association Agreement with the European Union.

Related: Ukraine's economy will grow by 5-7% each year, - President Zelensky

"In general, if the political and economic situation in the country is stabilized and the economy is open to cooperation with other countries, it will take literally fifteen years for Ukraine to reach the level of Poland," Svenczycki said.

He also added that, according to some calculations, the economic benefits of the EU agricultural market's fully opening to Ukraine would be greater than any assistance provided by Brussels.

As we reported earlier, the economy may grow by 3.7% in 2020. This was stated by Minister of Economic Development, Trade, and Agriculture of Ukraine Tymofiy Milovanov during a briefing broadcasted on 112 Ukraine TV Channel.

At the same time, according to the forecasts of the Ministry of Economy, by the end of 2020, the inflation rate can decrease to 5.5%.

Related: Possibilities of 'perfect storm' for Ukraine's economy

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