Economics Conjuncture and Regulatory Climate in Ukraine: Business Attitudes and Expectations
Oksana Kuziakiv, Executive Director of the Institute for Economic Research and Policy Consulting, analysed the economics conjuncture and regulatory climate in Ukraine.
2019 in Ukraine is the year of two elections: presidential (in March) and of deputies to the Verkhovna Rada of Ukraine (in October). This is exactly why analysing the economic expectations of Ukrainian business is especially important – not only from an economic but also from a political point of view.
International studies demonstrate that the more procedures a business needs to go through and the longer these procedures take, the more likely it is that the level of corruption in the country is high. Ukraine is perceived to be a country with excessive regulation and a high level of corruption. According to the USAID-funded Annual Business Climate Assessment (ABCA) conducted by the Institute for Economic Research and Policy Consulting (IER), in 2015, from 5% to 21% of business expenses comply with regulatory procedures were bribes.