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KEY
FIGURES
Surface
area: 603,700 km2
Population: 48,7 million (est. 2001)
The capital: Kiev (population aprox: mil.)
Monetary unit: 1 Hryvna (UAH)
Exchange rate: UAH per US$ = 5.44 ( 2000)
Inflation 28.2 % (end 2000)
GDP
growth rate: 6% (2000)
GDP per capita: 2 (2000)
Unemployment: 4.2% (2000)
Industrial production growth rate: 12.9% (est. 2000)
Foreign direct investment flow: USD 583 million (2000)
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Independence
- 24 August
1991 (from Soviet Union).
Executive
Branch
- President:
Leonid Kuchma (since July 19, 1994)
- Head
of government: Prime Minister Anatoly Kinakh (since May 29,
2001)
First Deputy Prime Minister: Oleh Dubyna (since May 29,
2001)
Cabinet: Cabinet Ministers appointed by the president and
approved by the Supreme Council
Legislative
Branch
Unicameral
Supreme Council or Verkhovna Rada (450 seats). Under Ukraine's
new election law, half of the Supreme Council's seats are allocated
on a proportional basis to those parties that gain 4% or more
of the national electoral vote; the other 225 members are elected
by popular vote in single-mandate constituencies; all serve four-year
terms.
Last elections held 29 March 1998 (next to be held in 2002).
Leading
parties
Election
results: Communist Party 24.7% , Rukh (combined) 9.4%, SPU/SelPU
8.6%, PZU 5.3%, People's Democratic Party 5.0%, Hromada Party
4.7%, Progressive Socialist Party 4.0%, United Social Democratic
Party 4.0%
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Macroeconomic
indicators
- The
year 2000 was Ukraine’s first full year of economic growth
since the onset of transition.
- GDP
growth was much higher than expected. The growth of the economy
was driven by light industry, the food and paper sectors and heavy
industry.
- Inflation
has been considerably higher, but is expected to come down in
2001to about 16%, which would still be higher than the 13.6% projected
by the 2001 budget.
- The
annual average and end-year exchange rate in 2000 was UAH 5.44
to the US dollar.
- Cumulative
FDI per capita stood at US at the end of 2000. Net FDI inflows
in 2000 stood at US3 million, which is higher than 1999, but
less than in 1998. The figure is very low for a country the size
of Ukraine and is expected to increase only slightly in 2001,
reflecting the persistently difficult investment climate.
- The
successful rescheduling of most commercial debts removed the earlier
prospect of default.
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Economic development
In
the last four years of economic development we can see:
- GDP showed
growth in 2000 and was higher than expected
- Inflation
continues to grow, partly due to National Bank of Ukraine policy
of buying foreign exchange to meet external debt commitments,
higher oil prices and increases in utility tariffs.
- GDP shows
a positive growth
- direct foreign
investments show a significant growth but still low compared with
FDI in Eastern Europe
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1997
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1998
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1999
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2000
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| Inflation
(%) |
10,3%
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20%
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22%
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28,2%
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| GDP
change (%) |
-3,2%
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-1,9%
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-0,4%
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6%
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| Unemployment
(official) |
3,1%
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3,7%
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4,9%
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4,2%
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| Exchange
rate (UAH/USD) |
1,86
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2,45
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5,3
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5,44
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| Direct
foreign investments (in USD mln) |
625
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718
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470
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583
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2010. Szeptember 5.
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