Ukraine, a Central European country of over 45 million people, covers a territory of 603,628 km2 (233,062 sq mi) entirely within Europe which makes it the largest country of Europe. Once the most advanced scientific, industrial and agricultural Republic of the former Soviet Union, Ukraine has kept its leading position in the intellectual potential and boasts the World’s richest reserves of fertile black soils (chernozem). Ukraine’s strategic location in the very center of Europe and land borders of 4,663 km with seven other European countries and its access to the Black Sea makes it a natural transportation & logistical hub.
About 60% of the Ukrainian lands are arable which makes it the largest country on the continent with the greatest potential in agricultural production for foods, textiles and renewable bio energy.
Ukraine’s President, Prime Minister, Ministers and a large number of the Members of the Parliament are trilingual: speaking Ukrainian, Russian and English for the first time in history of independent Ukraine. This became possible due to the open democratic elections of 2014 which followed the nation-wide protests against the corrupt pro-Russian President Viktor Yanukovych and his team.
President Volodymyr Zelensky was elected in 2019 in the first round of the presidential elections. Later in 2019, Parliamentary elections resulted in an overwhelming majority of the Presidential party to form a one-party majority in the Verkhovna Rada.
Ukraine is a republic under a mixed semi-parliamentary semi-presidential system with separate legislative, executive, and judicial branches. The state has been undergoing fundamental reforms in all spheres since 2014 despite the external pressure from Russia and internal obstruction from corrupt politicians linked to post-Soviet oligarchs.
The political situation in Ukraine and the military aggression of the neighboring Russian Federation have led to the adoption deficit budget during the past years with a substantial emphasis on defense expenses. At the same time, agri sector of Ukraine has been improving the trade balance of Ukraine with steady growing demand in international markets. The Ukrainian currency hryvnia exchange rate has been stabilized since 2015 while the economic development has remained stagnant leaving the key assets undervalued.
More information about current economic situation in Ukraine on the website of the National Bank of Ukraine.