The Ukrainian Economy, Surging Forward
Filed under: Ukraine
Business Week reports that despite being constantly harassed by Russia's imperialist abuse and lacking Russia's energy resources, Viktor Yushchenko's pro-West Ukrainian economy is roaring forward at an enviable pace:
Gross domestic product powered ahead by an impressive 8% during the first half of 2007, and economists expect the strength to continue, boosted by a surprisingly diverse economy of services, manufacturing, and raw materials. Metals, mainly steel, account for 40% of exports, but most of the growth is coming from manufacturing and services. Production of heavy equipment rose 22% in 2006. And Ukraine's software houses saw their exports jump by 50% last year, to some $250 million. Investors see promise in the growth. The Kiev stock exchange has more than doubled in size this year, and now boasts a market capitalization of $76 billion -- a sixfold increase since late 2004. And a real estate boom has pushed up housing prices by 60% in 12 months.Stroll around downtown Kiev these days, and it's hard to miss the signs of growing prosperity. The Ukrainian capital's golden-domed cathedrals share the skyline with towering cranes and snazzy apartment complexes.
Ukraine is showing that it is able to work wonders under the worst of circumstances, and Georgia the same. We owe it to these two former Russian slaves states to bring them within the NATO fold and give them the opportunity to show what they can do in the best of times, sending a strong message to imperial Russia that their days of slavery are permanently over -- as are our own.
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