Is Ukraine More Transparent?

The outgoing year was noted for being an extremely rich one in regulatory reforms and various government incentives. Ukrainian society felt numerous changes across almost all spheres of political, business and social life.

It is notable that despite the reforms course and quite sustainable macroeconomic performance, Ukraine was ranked only 152nd out of 183 economies as for the ease of doing business according to the World Bank report “Doing Business 2012: Doing Business in a More Transparent World”.

However, as available foreign experience suggests, improvement of economic indicators usually takes place in 3-5 years after regulatory simplifications.

So, despite mixed messages from abroad, it is worth saying that regulatory changes are accompanied by administrative reform across state institutions. Please note that for many years the lack of attention to institutions made even efficient legislation unworkable.

Given the current government incentives to prevent corruption and money laundering, the November issue has a special focus on business crime regulations and their practical implications.

Happy reading,
Olga Usenko