IMF: corruption slows Ukraine’s economic growth by 2% per year

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Open source

Ukraine loses 2% of Gross Domestic Product (GDP) per year because of corruption.

This was announced by the permanent representative of the International Monetary Fund in Ukraine, Goesta Ljungman, during a presentation of the European economic outlook for economy and overview of the macroeconomic trends of the Ukrainian economy.

«According to our estimates, corruption slows Ukraine’s GDP growth by approximately 2% per year. Ukraine needs to defeat corruption so that her economic growth would be not 3%, but 5%,» said Ljungman.

The IMF representative stressed that the further Ukraine’s economic recovery as well as prosperity of her population directly depends on the resolution of corruption issue, Interfax-Ukraine reported.

As The Journalist reported, the Prosecutor General Lutsenko believes Ukraine has unacceptably high level of corruption.

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