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You're reading: Ukraine’s economy nears post-election crunch time
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Once a showcase for communist industrialisation accounting for more than a tenth of the Soviet Union’s coal and steel output, the town of 400,000 today is a symbol of poverty and decay.

With its steel mill obsolete and state-run coal mines stagnating, Makiyivka is a stark symbol of the problems facing the economy as Ukraine approaches an Oct. 28 election: extreme vulnerability to external shocks and lack of reforms resulting in a dismal business climate.

Official statistics show that Makiyivka boasts one of the highest average wages in Ukraine at about $400 per month. But the town’s aspect and its residents tell a different story.

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