GENEVA/KIEV, Sept. 9 – Ukraine has dropped from 72nd to 82nd place in the 2009-2010 Global Competitiveness Report prepared by the World Economic Forum.

According to the report, in the near future Ukraine will face serious challenges in demand for export products, the devaluation of the national currency, and the breakdown of its financial system. The Ukrainian economy requires reforming in such sectors as the institutional environment (Ukraine ranks 120th out of 133), the strengthening of financial markets (106th), and increasing the efficiency of the goods markets (109th).