Brief

Ukraine, which is situated in Eastern Europe, is one of Europe’s largest country. It has a land area of 603,700 sq. km. Its neighbouring countries are, the Russian Federation in the east, Belarus to the north, Poland, Slovakia, Hungary and Romania to the west. To the south of Ukraine lies the Black Sea and the Sea of Azov.

Ukraine’s capital is Kyiv\Kiev. Also, Ukraine is divided into twenty four oblasts, i.e. regions, the cities of Kyiv and Sevastopol and the Autonomous Republic of Crimea, for administrative purposes. Other than Crimea, each of the administrative regions has a governor appointed by the President. The Autonomous Republic of Crimea, although subordinate to the central Government has its own government, parliament and constitution. The languages spoken here are Ukrainian and Russian, although Ukrainian is considered the official language.

The population of Ukraine is 46.6 million people. Ukraine is basically an urban country with its rural population a mere 32.8%, as compared to an urban population of 67.2%.

              

Area:      603,700 km2
Population:  46.6 million
Normianl GDP
(2006):    
  US$ 106.1 bn
Real GDP Growth
(2006):
  7.1%
Ratings:  BB-(Fitch)
 BB-(S&P)
 B1 (Moody's)
    

In the initial stages of Ukraine’s breaking away from the Soviet Union, inflation levels had reached a phenomenal high, but the prices stabilised with the introduction of Ukraine’s new currency ‘hryvnia’. In February 2007, the currency exchange rate for Hryvnia was, USD 1 = Hry 5.05 and Euro1 = Hry 6.63. Today, Ukraine stands tall as one among the world’s thirty largest economies.

In 2006, Ukraine had an annual inflation rate of 9.1%, thus showing a 1.2% decrease from 2005. Growth in GDP was 7.1% and all key industries showed an upward trend in industrial output. Industries which contributed toward this major growth were industries dealing with transport, mining and manufacture. Foreign direct investment (FDI) per capita in 2006 was 462 USD. This FDI was from hundred and eighteen countries of which the major contributors were Germany, Austria, USA, UK and Russian Federation. Also, today the unemployment indices in Ukraine are the lowest in EU.                                                                                                                                             ›› more

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