Today the Russian Trade and Economic Development Council is working on 25 international markets to support Russian companies expand abroad as well as helping international businesses move into the Russian market.

When the Soviet Union collapsed and Ukraine became an independent state, the opportunity to create a new economic reality for its citizens was missed by the government and policymakers. The delayed reorientation toward a market-based energy policy resulted in decades of corruption and dependence on Russia.

The agreement was reached during a recent meeting of the bilateral intergovernmental commission that had been held in Tashkent.

Central Bank, which has revised its economic growth forecast to 4.6 percent from 3 percent in June, said that two main drivers of the higher growth would expand more rapidly this year than it was projected earlier.

Inflation has exceeded the central bank’s 3 percent target for several months. Annual price growth was a record high of 12.8 percent in August, up from 11.9 percent in July.

The IMF agreed a $5 billion standby arrangement with Ukraine in June 2020 and an initial tranche of $2.1 billion was rapidly disbursed.