The Economy of Ukraine
Oligarchs, Corruption and Reform
Privatisation created powerful business groups in steel, energy and media, and fighting corruption has been central to reform efforts.
Wealth and politics were entangled.
Oligarchs
A small number of tycoons controlled major industries and influenced politics.
Corruption
Courts, customs and state enterprises were often cited as corrupt.
Reform
Anti-corruption agencies, procurement reform and digital services aimed to reduce it.
Link to the EU
EU accession requires stronger rule of law.
Digital procurement
An online system for public tenders reduced opportunities for backroom deals.
Ignoring institutions when assessing growth
Rules matter.
Key takeaways
- Oligarchs held huge sway.
- Corruption held back growth.
- Reforms have been introduced.
- EU accession requires more.
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