Ukraine's leading English-language newspaper since 1995

It’s sad to see the state spending its limited funds when investors are aching to improve Ukraine

st big step towards overhauling the nation’s roads, airports and railways, a step crucial for hosting the Euro-2012 football tournament.

It is good to see the government earmarking significant funds for renovation and preparing for the tournament nine months after being chosen to host it with Poland. But it’s sad to see the state spending the little money it has for such investments when investors with plenty of cash are aching to improve Ukraine.

The only money the government needs to spend is on preparing tenders to privatize or lease airport terminals. State cash should not be spent on renovation, modernization or expansion that could be better handled by private enterprise.

The experience in Eastern European nations, including the Caucasus state of Georgia, showed that top-quality airports can emerge within a year through privatization or long-term lease deals.

State money can be better spent in other areas, like raising pensions and salaries for judges and police.