"We are expecting a high risk of the crisis. In addition, economic development is more complex due to less financial flows and structural institutional difficulties. Under those conditions, the EBRD is ready to directly support the private sector," he said.
According to his estimate, the economic risk is currently medium-high in the country.
However, the situation in the Eurozone brings challenges to the national economy. "We forecasted the lower GDP growth in Ukraine in 2012, having reduced it to 3.5%... The region, on the whole, is more stable against external shocks, but we face the situation in the European countries, which create the shock," the EBRD expert noted.
Pavlov also added that the renewal process in the region consisting of 24 countries, Ukraine including, goes slower against other markets. The Ukrainian foreign debt has been growing. And this requires greater financing.
According to him, the nearest task for the Ukrainian government is improvement of the business-investment environment in the country. It is necessary to diversify also the export basis, to cut dollarization, Naftogaz deficit, to ensure monetary policy independence and to increase efficiency of agriculture.
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