Kyiv. 10 May 2007. The international seminar “Sustainable Economic Growth in Ukraine: Risks and Perspectives” took place in conference-hall of Hotel “Opera”. Event was initiated by United Nations Development Programme, Analytical Centre “BEST” and Charity Fund “Development of Ukraine” (Corporate Fund of SCM).  

During the seminar, the participants addressed the issues of political institutions's influence on economic stability and how the development of economic and market institutions may contribute to decrease in economic expenditures from political instability.

Seminar was opened by Mr. Francis O’Donnell, Resident Coordinator of the UN System in Ukraine and UNDP Resident Representative and Mr. Volodymyr Zaplatynsky, Ukrainian Parliamentarian, Head of the Committee on Economic Policy. They emphasized the necessity of the event and marked that the issues discussed are targeted at solving strategic problems of creation of political and state institutions, which would prevent political crises and political instability in future. 

During the first part of seminar, participants examined the role of state institutions in democratic systems. Keynote speaker was Ms. Kim Campbell, Former Prime Minister of Canada emphasing on the importance of stable political system creation for ensuring economic development in the country. Senator Lincoln Chafee, Former US Senator from the State of Rhode Island, shared his experience as ex-mayor of the State and Senator at National level in development of means which overcome contradictions between federal priorities and local government needs.

The second part of the seminar was devoted to issues of market institutions development to reduce economic costs during political instability. The speakers talked about structural reforms in Ukraine, promotion of economic appeal of Ukraine to foreign investors and about impact from political instability on investment activities. Mr. Igor Shumilo, Executive Economic Director of the National Bank of Ukraine, provided analysis of Ukrainian sustainable development and determined several reasons of dragging out structural reforms. Mr. Martin Raiser, Senior Economist of the World Bank, highlighted possibilities which appear before Ukraine due to a large number of reforms. Mr. Raiser is sure strategy for reform should involve interests of large national capital in completing stage of creation legal system for market economy and concentrating political efforts on reforming state sector to improve services.

For more information, please contact Analytical Centre "BEST" at (044) 501 7777.