April 3, 2017 Print

Ukraine has a low ranking on the Fraser Institute’s “Economic Freedom of the World” index, placing 135th out of 159 measured economies in the world — even lower than its previous ranking of 128th. The Bendukidze Free Market Centre, an Atlas Network partner based in Kyiv, recently published a Ukrainian translation of “Economic Freedom of the World,” making the report’s findings easily accessible to Ukrainian policy makers and pointing toward a clear path for reform. The organization released its new translation at an event attended by David Sakvarelidze, Ukraine’s former deputy prosecutor general of Ukraine; Aivaras Abromavičius, former minister of economic development; Ruslan Korzh, former economic development deputy; Tomas Fiala, CEO of Dragon Capital; and Peter Chernyshov, president of Kyivstar.

“We much better understand the depth of our problems now than three years ago,” said Vladimir Fedorin, Bendukidze president, as reported by Atlas Network partner Reed.Media (translated from Ukrainian). The Reed.Media coverage also paraphrases some of Fedorin’s remarks. “The main objective of almost all the political forces, he said, is access to state resources for personal enrichment, so that ‘the policy in such a system is the most profitable investment.’ A corrupt economy, dependent policies, and oligarchic media together make up the ‘vicious circle,’ which can break the ‘powerful political process.’”

Reed.Media also reported on Ukraine’s ranking when the latest edition of Fraser’s “Economic Freedom of the World” report was released in September.

“According to the index, the main factors that influenced the deterioration of the position of Ukraine have been a significant deterioration in … monetary security (affected by inflationary policy in 2014), as well as a significant decline in the freedom of international trade,” Reed.Media explained (translated from Ukrainian). “Although the regulation of the banking sector, business, and the labor market of Ukraine has shown some progress.”

Additional photos from Bendukidze’s release event for its Ukrainian translation of “Economic Freedom of the World” are available on the organization’s Facebook profile.

Bendukidze is continuing its work on economic freedom by teaming up with the Center for Social and Economic Research (Case Ukraine) to announced their launch of the “Economic Freedom of the World” audit project in Ukraine. The organization is also currently translating the report into Russian.