Despite some reforms attempts by a new generation of bureaucrats, Ukraine's economy remains unreformed. Taxes are oppressive but widely evaded, the shadow economy is growing and the regulatory climate for business has barely improved. The International Monetary Fund, the country's biggest source of hard currency recently revised this year's projection to an 11 percent decline.
Ukraine's justice system remains incredibly corrupt. The grip of oligarchs and a corrupt bureaucracy on what's left of the Ukrainian economy has proven too strong, the schemes too entrenched.Ukrainian civil society is stunted by these powerful vested interests. Unless the current political elite finds it in itself to clean up, Ukraine's history of violent regime change is probably not over yet. Read more at www.bloombergview.com
Ukraine's justice system remains incredibly corrupt. The grip of oligarchs and a corrupt bureaucracy on what's left of the Ukrainian economy has proven too strong, the schemes too entrenched.Ukrainian civil society is stunted by these powerful vested interests. Unless the current political elite finds it in itself to clean up, Ukraine's history of violent regime change is probably not over yet. Read more at www.bloombergview.com
