With a record harvest and high international prices for agricultural goods, iron ore, and steel, this year should be one of strong economic growth for Ukraine, but it is not. The International Monetary Fund has just forecast that the global economy will grow by 5.9 percent in 2021, but Ukraine’s economy is expected to expand by just 3.5 percent, despite a four percent fall last year. For a laggard such as Ukraine with an open European market, a reasonable policy should yield growth of seven to eight percent.
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