Effective development of the Ukrainian agricultural industry annually requires nearly 5 bln USD of investments during the following 10 years, declared Oleg Ustenko, Executive Director of the Bleyzer Foundation, on November 26 during his report at the Second round of the V Ukrainian Grain Congress in Kiev.
Also, he noted that in the current year for the first time since independence, Ukraine will face the outflow of foreign capital, due to the unstable political and economic situation in the country.
However, even before the current crisis foreign investors talked about their unwillingness to invest in the economy of Ukraine, due to the high level of corruption, administrative barriers and imperfections of the judicial system in the country, the expert added. According to the forecast of O.Ustenko, in 2014 the fall of Ukrainian economy will total 7%.
In 2015 the reporting index can slow down to 5%, but only in terms of holding the necessary reforms and adoption of a series of unpopular reforms by the Government. In such terms the Government will be able to attract foreign currency flows to the economy, said the expert.
At the same time, the agro-industrial complex will be the first industry in which investment will come, and the energy sector will be the second one.
In particular, O.Ustenko called reforming of the system of public administration among the unpopular reforms. The expert said that it is necessary to reduce not only the officials staff, but also the number of Ministries - primarily the Ministry of Industrial Policy and the Ministry of Agrarian Policy, and form the relevant offices under support of the Vice Prime Ministers.
