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You're reading: People First: The latest in the watch on Ukrainian democracy

The primary performance indicators of the government’s economic policy have been the outside perspectives of Ukraine’s investment climate.

Leszek Balcerowicz, famous for implementing the Polish economic transformation program, recently spoke at an annual investment conference organized by Dragon Capital, mentioning that poor policy and an extreme concentration of power leads to economic collapse faster than if the market is left to its own devices.

The characteristics he described seem to be present in today’s Ukraine. Nearly 70 percent of foreign investors at the conference mentioned that the lack of respect for rule of law in Ukraine is the main obstacle to economic development and the reforms. Balcerowicz believes that real reform in Ukraine can only come after a reduction of energy dependency on Russia, the signing of the association agreement and free trade area with the European Union and a “shift in top-to-bottom policy."

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