Igor Mazepa about Ukraine’s 2019 economic achievements and failures

30.12.2019

Igor Mazepa, investment banker, CEO of Concorde Capital discusses Ukraine’s 2019 economic achievements and failures

Igor Mazepa , Ukrainian businessman and investment banker, financial expert, Concorde Capital CEO and Founder, discusses Ukraine’s 2019 economic achievements and failures.

If we talk about positive events, I would mention:

• Cooling consumer inflation, enabling the National Bank to begin and intensify its monetary policy softening
• Moderate trade deficit growth
• The National Bank’s currency liberalization measures
• The approval of a realistic budget for 2020
• The new government having resist populist tendencies in forming expenditures, - says Igor Mazepa.

When we talk about negative events, I would mention:

• Unfulfilled 2019 budget revenues
• Failure of the new government to approve effective farmland market legislation
• The absence of a clear policy on taxing individual entrepreneurs
• The tricky situation surrounding PrivatBank
• Intense pressure directed at the National Bank of Ukraine
• Attempts to weaken the National Bank as an independent institution
• The failure of large-scale privatization – summarizes Igor Mazepa.