The slashing of energy subsidies by 10 percent of GDP by unifying energy prices from 2014 to 2016 was most important. As a consequence, Ukraine’s public expenditures fell by 9 percent of GDP in 2015 alone, and the budget deficit plunged from 10.5 percent of GDP in 2014 to 2.5 percent in 2015.
OP-ED
Anders Aslund: Have Ukraine’s reforms stalled?
President Petro Poroshenko gives a speech at the beginning of military parade to celebrate 25 years of Ukraine's Independence on August 24.
Few Ukrainians realize how impressive their economic reforms were in 2015. The question today is whether that reform wave will continue, or has come to a halt.
