Ukraine's business confidence rises to 4-year-high: survey

Business confidence in Ukraine's investment environment has increased to its highest level in more than four years on the initial signs of economic and political stabilization, showed a survey unveiled here on Thursday.

The poll, which was conducted in May among 92 executives of local and foreign companies working in Ukraine, showed that the Investment Attractiveness Index of the East European country stood at 2.88 points on a scale of 5, which was the best result since the second quarter of 2011.

As compared with the end of 2015, the index was up 0.31 points, said the survey released by the European Business Association.

In the same time, the poll showed that the investor confidence levels remained below the stability mark of 3 points.

According to the survey, the improved confidence was primarily due to the stabilization of the local currency, unification of gas prices for industry and households and the end of the political crisis in the country with the appointment of the new government.

Among the leading obstacles to investment in Ukraine, top managers named absence of systemic changes, lack of reform progress and widespread corruption.

The survey also said that 42 percent of the respondents believed that investment climate in Ukraine would improve in the coming six months. Endit