Ukraine: A year of living dangerously

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Ukraine: A year of living dangerously

Ukraine is at the cross-roads. Too limited reform has left it on the brink of default, opposition parties demanding a return to central planning. Either the country embraces market economics, and wins IMF support, or it rejects them, and invites economic collapse. Reunion with Russia might then be the only option.

Ukraine in figures 1996
(estimate)
1997 1998 Output (percentage change) GDP at constant prices

-10

-3.2

0

Industrial gross output

-5.7

-1.8

na

Agricultural gross output

-9.5

-0.8

na

Employment (percentage change)

Labour force (end-year)

-5

na

na

Employment in industry (end-year)

-8.6

na

na

(in percent of labour force)

Unemployment

1.1

2.3

na

Prices and wages (percentage change)

Consumer prices (annual average)

80

16

11

Consumer prices (end-year)

40

10

22

Producer prices (annual average)

52

8

na

Producer prices (end-year)

17

5

na

Gross average monthly wages in industry (annual average)

71

14

na

Government sector (in percent of GDP)

General government balance

-3.2

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