KIEV, Oct. 20 – Ukraine's economy has started to recover, although the realization of reforms in the financial and taxation spheres should be accelerated to strengthen the process, according to Nouriel Roubini, professor of economics at New York University's Stern School of Business.

The economy in Ukraine has started recovering, but crosswinds are still blowing, in particular, the slow recovery of the global economy, as emerging markets are strongly impacted by the global markets, he said. The only way to support Ukraine's economic growth is to accelerate reforms, and in general conduct a proper economic policy to provide resistance to global stresses, he said in Kiev on Tuesday at an investment forum organized by the Investment Capital Ukraine (ICU) Group.

He said that Ukraine should cut its budget deficit and clean up its financial system. The expert also said that Ukraine could gain much from direction foreign investment, although the rights of capital owners should be fully protected.