EU expects Ukrainian economy to grow by 1-2% in 2016 - said European Commission Vice-President for financial stability

The EU expects the Ukrainian economy to grow by 1-2% in 2016, said the European Commission Vice-President for the Euro, Social Dialogue and Financial Stability, Valdis Dombrovskis, at the 13th Annual Meeting of the Yalta European Strategy (YES).

“We hope for 1-2% growth this year and the same next year. Inflation is going down, demands regarding the size of the deficit are being met, international reserves are growing. However, a lot is yet to be done,” he said.

Dombrovskis insists that further international economic support depends on Ukraine’s own efforts, while any success is solely dependent on the continuation of effective reforms.

“We can’t do everything for you. I would like to call on the Ukrainian government to fight corruption in a more resolute and persistent manner. Stronger anti-corruption agencies will guarantee economic recovery. It is also important to restore the trust of the Ukrainian people in their own Government, as well as the trust of the international community,” Dombrovskis added.

The European Commission officially noted Ukraine’s significant progress in implementing reforms.

“The country is undergoing deep transformation. Ukraine has recently introduced more reforms than any other European country,” he concluded.