Reform Index for the first time since the beginning of its existence in January 2015 dropped to a value of zero. During the period of January 9 – 22, 2017 in no component of the index such as public administration, public finance, monetary sphere, business environment and energy sector – no regulations that can be considered reforms were recorded.
For reference: the average value of Reform Index in 2016 dropped to +0.9 points from +1.2 points in 2015 (on a scale from -5 to +5, where a negative value means regress). The index reached its peak in the first half of 2015, when Ukraine led negotiations with the IMF on the new Extended Fund Facility (EFF) program and was preparing for the first payments. In this period, the average value of Reform Index reached 1.4 points.
Chart 1. Reform Index dynamics*
* Reform Index team considers index value of at least 2 an acceptable pace of reform
Note:
Reform Index aims to provide a comprehensive assessment of reform efforts by Ukraine’s authorities. The Index is based on expert assessments of changes in the regulatory environment in five areas:
- Governance
- Public Finance
- Monetary system
- Business Environment
- Energy
For details please visit reforms.voxukraine.org
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