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Global Agenda Council on Ukraine 2012-2014

 
Global Agenda Council on Ukraine 2012-2014

Ukraine’s economy has suffered significantly during the global financial crisis; its GDP has shrunk by almost 15%. The crisis has exposed Ukraine’s dependency on heavy industries and the country’s vulnerability to big fluctuations in commodity prices, especially those of steel, Ukraine’s top export. Over 20 years after independence, many still attribute the young nation’s economic woes to its Soviet legacy, weak institutions and the difficult transition from command to market economy.