Economic growth as a key factor in the dynamics of level and quality of life of Ukrainian population

Abstract

The objective of this article is conducting the analysis of economic growth, being a key factor in the dynamics of level and quality of life of the population, as well as to develop the related suggestions, in order to accelerate and stabilize such processes in Ukraine. This research presents the analysis of the real GDP’s changing rate in recent years, along with the assessment of another evidence of the economic growth i.e. the income of the population. The related crosscountry comparative analysis of the level of population’s well-being has been performed. The reasons for Ukraine’s significant lagging behind its neighboring regions and other European countries in terms of main economic indicators have been determined. We’ve defined the “poverty trap”, the authors believe that it is the current state of Ukrainian Economy. The related suggestions aimed to accelerate and stabilize the economic growth in Ukraine have been developed.