By Tetyana Tyshchuk, VoxUkraine iMoRe editor and Oleksiy Hrybanovsky
Since the Revolution of Dignity, the President’s Office, the National Bank of Ukraine, the Parliament, and the various administrative bodies have begun a wide-ranging program of reform. Which governmental actions have proven to be good for Ukraine’s economy, and which have taken Ukraine in the wrong direction? Tetyana Tyshchuk and Oleksiy Hrybanovsky closely studied the Index for Monitoring Reforms in order to find out which government agencies are true to their word.
Since early 2015, iMoRe has been closely tracking nearly 500 pro-reform legal actions focused on governance, public finance, the monetary system, the business environment, and energy. The effectiveness of reform in each of the five areas has been assessed on a scale of -5 to +5 points.
According to the iMoRe rating, ten specific reforms stand above the rest in terms of their ability to positively affect Ukraine’s economy. First, natural gas tariffs for consumers and producers, as well as the price for the gas produced by Ukrgazvydobuvannya, were brought up to the market level. Second, the Rada adopted a series of measures intended to provide transparency in the public procurement process. Third, bank owners are now subjected to criminal responsibility for leading banks into bankruptcy . Fourth, new legislation was passed regarding the natural gas market. Fifth, the law on joint stock companies was amended. Sixth, the judicial system has been strengthened through both constitutional amendments and regulatory changes regarding courts and judges. Seventh, the Ministry of Infrastructure’s public services companies have disclosed their procurement records to the public. Eighth, the state-owned enterprise Ukrekoresursy was dismantled.