KYIV. Feb 8 (Interfax-Ukraine) – The worsening of the political situation in the country, delay in reforms and retaining corruption are a threat of further worsening of the economic situation and the loss of trust of international donors, according to the statements of the European Business Association (EBA) and the Ukrainian League of Industrialists and Entrepreneurs (ULIE) issued on Thursday in response to the resignation statement of Ukrainian Economic Development and Trade Minister Aivaras Abromavicius made on February 3.
“Investors consider this latest political drama as an appalling symptom, which is likely to have very negative repercussions,” the EBA said, pointing that business has lost trust to actions of authorities.
“We’re alarmed at a new portion of political statements around the government and parliament showing that there is no consolidated position in the top state management, a lack of trust between the different branches of power, the inability to work jointly on finding the way out of the social and economic crisis and further development of the Ukrainian economy,” the ULIE said in a statement.
The associations said that Ukraine urgently needs reforms, constructive and consolidated efforts of the president, parliament and cabinet.
“Ukraine’s economy is undergoing challenging and turbulent times… Failure to mount a comprehensive fight against corruption will further worsen Ukraine’s situation if the authorities once again fail to implement serious changes. With Ukraine being dependent on international support and financial aid, cooperation with the IMF is at risk unless the political leadership shows tangible commitment to fighting corruption,” the EBA said.
The association urges Ukraine’s leaders to take action, to transparently and independently investigate all accusations that are being voiced, to finally enforce a zero tolerance stance on corruption and carry out vital structural reforms and protect investor-friendly technocratic reform leaders with support of the business community.
“…a technocratic government is required that would work on the plan how to withdraw from the crisis, that would be responsible for achievement of concrete results in the set terms and that would give up the principles of personal party allegiancy… The modern government must be renewed and strengthened thanks to responsible and active professionals,” the ULIE said, citing its head Anatoliy Kinakh.
