Economic growth rate is nearly half of the pre-recession average rate. Unemployment rate is approaching double digits. Inflation is rampant.
Ukraine’s external debt is nearly equal to Ukraine’s GDP. Overall, the economic situation is very drastic and it requires a new approach to the current economic policy.
A jobless stagnant economic recovery is very common among many developed and industrialized countries. The EU economy is still struggling with its recovery, hindered by the fiscally troubled PIIGS countries (i.e. Portugal, Greece, Italy, Ireland, and Spain).