About reset of Eurointegration and collapse of consumer confidence
ICPS Newsletter № 481 (October 04, 2010)
Ukraine’s integration into Europe has reached a dead end. The EU is not exactly refusing Ukraine entry, but it is also not making any commitments. Meanwhile, Ukraine’s commitments remain strictly on paper. Both in Europe and in Ukraine, the need to re-boot relations is recognized, but no one seems to know exactly how.
Consumer Confidence is in a tailspin, with more than 60% of Ukraine’s consumers feeling pessimistic at this point. In addition to being disappointed in the behavior of the new Government, which was the main factor pushing the consumer mood down in July, August saw a sudden, unseasonal surge in food prices. Because spending on food tends to take a major part of most household budgets in Ukraine, the sudden steep increases forced Ukrainian consumers to downgrade their assessments of their own financial standing. Read more ›››