Tuesday, October 27, 2015

Foreign students bring $500 million of export revenue into Ukrainian economy

Over 63,000 foreign students, or about 4% of total number of students, are currently studying in Ukraine, Deputy Education and Science Minister of Ukraine Oleh Derevianko said at the 3rd Business and Universities National Forum. Derevianko also said that education could be considered as an economic category and a sector that has an export potential. A dynamic development of universities would start with the change of their status from budget-funded institutions to profit-making organizations, which would introduce new principles of financing.
The number of universities in the country should be cut to no more than 60-70 educational institutions (today - 317) which would focus on research. Ukraine is 33rd in the 2015 Bloomberg innovative countries ranking. Expenses on education in Ukraine totaled 6.7% of the country's GDP, and expenses on research work – 0.8% of GDP. Read more at http://interfax.com.ua