Reforms, Privatization, and the Crisis: The Ukrainian Economy of the 1990s

August 6, 1997. Lviv. The program “Science and Time” is devoted to the reasons behind the failures of economic reforms in Ukraine during the first seven years of independence.

Oleg Kuzmin, Ph.D. in Economics, analyzes the state of the economy, mistakes in privatization, the decline in investment, problems with small business development, tax policy, and the growth of the shadow economy. Among the consequences, he cites job losses, the displacement of Ukrainian enterprises from international markets, and a worsening crime situation. At the same time, the expert notes positive changes: curbing inflation, the development of the banking system, and the creation of a secondary securities market. The episode also discusses the activities of Prime Minister Pavlo Lazarenko.

Commentary by: Oleg Kuzmin, Ph.D. in Economics.

Host: Oksana Prokip.