Reforming the Ukrainian State and Improving the Business Climate

In spite of the impressive economic growth recorded in the first decade of the 2000s, Ukraine is not considered a business-friendly country. This is reflected, for example, in the Heritage Foundation Index of Economic Freedom, which ranked Ukraine 125th in its 2007 rankings (out of 157 countries), and placed it in the category of “mostly unfree” economies, behind most other CIS countries. Scores in the categories of “Fiscal Freedom” and “Trade Freedom” were above the world average. However, in categories such as “Freedom from Corruption,” “Property Rights,” and “Investment Freedom,” Ukraine’s record looks dismal.