Posted by Ahmed on August 10, 2000 at 17:38:28:
In Reply to: Re: Majbuttia posted by Ihor on August 10, 2000 at 15:32:35:
: : Both countries made progress in recent years but it seems that Turkey will be capable to fulfill the criteria for EU substantially earlier than Ukraine.
: Maybe so, but that doesn't mean it will go a lot farther than Ukraine or that Ukraine isn't capable of doing even better.
RE: What do you mean it will not go further than Ukraine?
Do you understand what is compounding effect in economical growth?
Ukraine has the lowest GDP per capita in Europe in terms of USD is about 600. Slovakia has about $ 8000. Let's say Ukraine's growth is 10% per year and Slovakia's is 2%.
At the end of the year Ukraine has USD 660 while Slovakia has USD 8120 per capita. Slovakia is $60 ahead of Ukraine. Now, take in consideration that no country can have 10% sustainable growth for ten years. Japan and S. Korea had 7 to 8% growth in their peak for a few years (3 to 4 years.). Can you comprehend what it means a sustained decline of Ukrainian economy for 10 years? Wishful thinking does not help here. Better to stick to the facts and to hard numbers generated by professionals in the field and not by politicians.