However, this is not a sign of the Ukrainian
economy becoming healthier. The country had no growth in 2013, staving off a recession partly because of a vibrant agricultural sector.
Financial experts says that the balance of payments surplus is an illusory set of circumstances and accounting. The nation’s finances found some stability in the last month with Russia’s $3 billion purchase of Ukrainian debt. But Russian President Vladimir Putin has frozen the other $12 billion in bailout money, pending formation of a new Ukrainian government to its liking.
Another factor behind the illusory surplus is the continued failure of
Ukraine’s oil and gas monopoly Naftogaz to make payments
to Russia for imported natural gas. According to Dragon Capital Financial
Services, Ukraine’s outstanding debt for gas
imports is currently $2.7 billion.