Igor Mazepa: Ukraine economy growing, but not enough

Investment banker Igor Mazepa, CEO and Founder of Concorde Capital, comments what happened with Ukraine’s economy at the end of 2019 and how it affects the public.

It became apparent that 2019 fourth-quarter GDP growth would be much weaker than in the prior quarter because of the 7% yoy quarterly drop in industrial and agricultural production, the latter being partly the result of a shift in seasonality. Fortunately, agriculture demonstrated solid results nonetheless – comments Igor Mazepa.

Currently, we are expecting the 2020 GDP growth rate will be close to what we observed in the prior year, or about 3% - says Igor Mazepa. Although growth indicates economic gains, this relatively slow rate can’t bring noticeable improvement neither in the welfare of citizens, nor in changes that can enhance economic stability.

So as before, the Ukrainian economy will remain vulnerable, with its prior risks – summarizes Igor Mazepa.