Bìznes Inform (Oct 2019)
The Current Status of the Socio-Economic Development of Ukraine
Abstract
The publication is aimed at an analytical study on the status of Ukraine’s socio-economic development in the current conditions. The concept of «socio-economic development» is studied, the factors that influence the status of its main components are substantiated. The following components of the socio-economic development are analyzed: economic potential, place of the national economy in the international arena, level of innovation, political stability, investment climate, living standards of the population. The carried out analysis proved that the identification of a significant number of indicators that form the basis of socio-economic development in Ukraine does not occur. For example, the standard of living of the population is determined by the Ministry of Social Policy of Ukraine only on the basis of economic factors, while the social aspect is completely overlooked. As a result of the study, it is determined that according to the most international ratings and indices, which constitute the basis for assessment of the status of socio-economic development, Ukraine occupies a position below the average. In particular, the Human Development Index, the Global Innovation Ranking, the Investment Attractiveness Index, and the countries’ GDP per capita rating are examined. One of the main indicators for measuring the standard of living of the population, the Human Development Index, is deteriorating year to year. In the course of an analysis the main factors that had a negative impact on the level of socio-economic development of Ukraine were clarified. The most pernicious factors are corruption, inflation and an imperfect tax system. However, despite the difficult economic situation, political instability and low standards of living of the population, it is noted that Ukraine has a great domestic potential necessary to improve the socio-economic development.
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