Tuesday, September 24, 2019

Ukraine forecast to have future of agrarian power but...

To understand how miserable is the growth of Ukraine's economy accounting for 2%-3%, it is enough to recall what a breakthrough China has made. On the average China's economy was increasing annually by 15% in the 1980s-1990s, and afterwards the growth rate slowed to 8%-10%. Reportedly, its average growth rate over the three decades to 2010 was 10%.

According to economist Andrei Martynyuk, unlike Ukraine, which is forecast to have the future of an “agrarian power”, the Chinese have sharply reduced the share of agriculture in country's GDP. As a result, while the Chinese economy quadrupled the size of Ukraine's economy in the early 1990s, today the Chinese economy's total size is estimated at some $13.2 trillion, making a difference of $130 billion as against Ukraine's GDP.

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