Politics

The recent parliamentary election has completed the transition of power from the autocratic Yanukovych regime to pro-Maidan and pro-Western political forces. The new parliamentary coalition will be pro-presidential, meaning President Poroshenko has gained a carte blanche for pursuing the economic reforms he deems appropriate. The need for a swift and painful transformation is apparent and the newly elected authorities will have no excuses for not delivering on promises. We remain optimistic about the prospects for decisive economic reforms – the authorities' first reform initiatives are much more ambitious and convincing than those pursued in the aftermath of the Orange Revolution of 2004. Nevertheless, the pace is still too slow, which has been noted by many economists and investors.

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