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Economy of Ukraine

Ex.1. Let’s revise the knowledge about our country. Think and answer the questions.

1). Where is Ukraine situated? 2). How many countries does Ukraine border on? 3). What is the population of the country? 4). What can you cay about natural resources of Ukraine? 5). What is the capital of our country? 6). What other big cities do you know? 7). What can you say about political system of the country? 8). What can you say about Ukraine’s industrial potential?

Ex.2. Find the Ukrainian equivalents in the second column.

1) nation-wide referendum 1) енергоносії

2) industrial potential 2) економічний розвиток

3) united management 3) програма економічних реформ

4) monetary-credit system 4) внутрішній валовий продукт

5) inherited dependence 5)всенародний референдум

6) machine-building 6)промисловий потенціал

7) gross domestic product 7) вихід із кризи

8) closed productive cycle 8)успадкована залежність

9) economic links 9) спільне управління

10) economic development 10)замкнутий виробничий цикл

11) power carriers 11)грошово-кредитна система

12) way out of the crisis 12) економічні зв’язки

13) program of economic 13) відновити стимули

reforms

14) to restore incentives 14) машинобудування

Ex.3. Give the corresponding nouns to the following verbs.

To confirm, to populate, to develop, to produce, to cooperate, to stabilize, to reorganize, to depend, to inflate, to manage, to form, to apply, to restore.

Ex.4. Read and translate the text. Entitle it.

On August 24, 1991 the Verkhovna Rada declared the formation of the Independent Ukrainian State and on December 1991, a nation-wide referendum confirmed the formation of a new large European state.

As to its territory Ukraine is one of the second largest country in Europe. As to its industrial potential, th is is one of the most developed republics of the former Soviet Union with highly developed metallurgy, machine-building, chemical production and agriculture.

The economy of the Soviet Union was functioning for decades as an aggregate national economic system linked by united management, cooperated links and applied technologies. This has predetermined the inherited dependence of Ukraine on economic ties with former republics of the former Soviet Union. It will suffice to point out that 2/3 of the country’s gross domestic product did not have a closed productive cycle in Ukraine. Clearly the emergence of political and economic borders in a formerly united economy, the emergence of the national monetary-credit and financial systems, breaking of the system of traditional economic links have brought the economy of the country to a crisis. Almost all the indices of the economic development have negative dynamics. But the rates of decrease of production are slown down and first signs of stabilization appear in a number of branches of economy.

One of the main reasons of inflation is prices for power carries imported from Russia. These prices have increased by hundreds times during the last years. The government of Ukraine sees the way out of the crisis in realization of the program of economic reforms which would make it possible to reorganize the economy, to change its structure, to carry out privatization and to restore incentives to the effective work.

VOCABULARY:

confirm indices

aggregate decrease

ties (links) signs

predetermine way out

inherited restore

borders incentives

emergence сlearly

Ex.5. Fill in the blanks with prepositions or adverbs if necessary.

1). As to its territory Ukraine is the second largest country … Europe.

2). Ukraine is one … the most developed republics … the former Soviet Union … highly developed industry and agriculture.

3). One … the main reasons … inflation are prices … power carriers imported … Russia.

4). The prices have increased … hundreds times … the last years.

5). The government … Ukraine sees the way out … the crisis … realization … the program … economic reforms.

Ex.6. Read the text about the processes of Ukraine’s economy and answer the following questions.

1). What processes characterize Ukraine’s economy today?

2). What potential does Ukraine have to develop its economy?

3). What is the role of our government in conducting economic reforms?

Two interrelated processes are characteristic of Ukraine’s economy today, namely its assertion as that of an independent state, and its transformation from planned-centralized to market-controlled. These processes are complicated, but there are all prerequisites for their effective accomplishment.

Present-day independent Ukraine has a considerable potential to develop its economy – and this is explained by the convenient geographical position in terms of international trade exchanges.

Reforms, started in the national economy are aimed at the establishment of an open, effective market type economy.

In a short period of time the government of Ukraine has succeeded in creating a legislative and regulating basis for conducting economic reforms.

Taxation and budget systems corresponding in their structure to the world practice are created anew. The change over to a free price formation in the economy is carried out. The government regulation of price level is applied only in establishing prices for main energy carriers, some most important food, communal and transportation services.

Much attention is given to the change of the structure of property.

Ex.7. Give the characteristic of Ukraine’s economy today using the following words and word-combinations.

- to declare the formation of the independent Ukrainian State;

- aggregate national economic system; nation-wide referendum;

- cooperated links;

- applied technologies;

- to predetermine;

- inherited dependence;

- united management;

- gross domestic product;

- closed productive cycle;

- emergence of political and economic borders;

- national monetary-credit and financial systems;

- traditional economic links;

- economic development;

- rates of decrease of production are slown down;

- power carriers;

- the way out of the crisis;

- to reorganize the economy;

- to carry out privatization;

- to restore incentives to a highly effective work.

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