100 Days of Ukraine's Government: PM Groysman's 100 days: New tariffs, no IMF money

17:25 Jul. 22, 2016

PM Groysman's 100 days: New tariffs, no IMF money

Ukraine's PM Volodymyr Groysman speaks at a government meeting in Kyiv (UNIAN photo)

UNIAN has analyzed the achievements and main economic priorities of Ukraine's new Cabinet of Ministers, headed by Volodymyr Groysman, over its first 100 days in power

The Ukrainian Cabinet headed by Volodymyr Groysman has completed its first 100 days governing the country. There will be no traditional events to mark this date. The Ukrainian premier emphasized that it was too early to talk about any significant success in such a short term in office.

Read also Ukraine will join EU in 10 years – Groysman

 

We get it. In the history of assessments of any leader's first 100 days, the most effective leader was U.S. President Franklin Delano Roosevelt. He assumed the office at a time when the country was experiencing a deep depression and still managed to draft and quickly enact 15 key economic laws, which pushed the U.S. economy up and forward onto the path of strategic growth. None of his predecessors or successors have achieved as much.

Volodymyr Groysman assumed office as Ukraine was exiting from a deep crisis. In the beginning of 2016, the Ukrainian State Statistics Service, for the first time in several years, recorded signs of economic growth. However, torn apart by populist and military battles, Ukraine slowed down the pace of reform quite considerably and almost froze the dialogue with its key creditors – primarily, the International Monetary Fund (IMF). In September 2015, Managing Director of the IMF Christine Lagarde showered the Kyiv authorities with compliments, but in February 2016, she limited herself to a dry four-line message threatening to close the door for Ukraine, unless Kyiv worked hard to eliminate corruption.

Read also European Commission chief comments on Ukraine's reform efforts

 

Traditionally, Ukraine saw this as an opportunity to improve, through a reshuffle in the power vertical and more specifically, by changing the government. Ukrainian President Petro Poroshenko decided to appoint a new prime minister and reshuffle the Cabinet, hoping that a change of guard would lead Ukraine out of the darkness. However, the president's bench did not have many players, and therefore there were not so many options to choose from. Groysman, then-Parliament Speaker, became the only possible compromise and was greenlighted by the new parliamentary coalition. He was appointed prime minister on April 14, with the votes of the pro-presidential faction, the bloc of former Prime Minister Arseniy Yatsenyuk, who had resigned after a few months of political maneuvering, and some non-affiliated MPs.

Read also Ukraine's PM wants to reform labour market wages

 

There were no ambitious objectives set before the new Cabinet and its chief, and no one harbored any serious economic expectations. Experts were unanimous at the time, saying that if nobody expected anything from the Cabinet, it could surprise with a breakthrough. Groysman vowed to deliver change. "I'll show you how to run the state," he told the nation in an address to the Rada on the day of his election.

Read more on UNIAN

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