To double GDP growth rates to 5% and above, Ukraine needs “relentless improvement of the investment climate,”

To double GDP growth rates to 5% and above, Ukraine needs “relentless improvement of the investment climate,” Matteo Patrone, the EBRD’s regional managing director, writes in the Kyiv Post. “The basic preconditions for this to happen are a stable macroeconomic environment, sound institutions that guarantee property rights and provide rule of law and an open competitive economy.” He writes: “Only sound public institutions and professional public administration with high integrity, providing high-quality public services can guarantee private property rights and rule of law. That is why the EU and the EBRD have created the Ukrainian Reform Architecture, a holistic approach to public administration reform.” But, he adds: “The anticorruption legislation is not enforced, anti-corruption institutions are still weak, lack capacity and there are significant efforts to undermine their independence and efficiency.”