"Given the current market conditions, it will be very difficult for the government to raise $2.5 billion by the end of the year," Olena Bilan, chief economist at Kiev-based Dragon Capital,said by phone. "It means that the $2 billion loan from Russian VTB Group will be at least partially prolonged into 2012, effectively increasing borrowing needs next year."

Tomas Fiala, Chief Executive Officer, Dragon Capital, EBA President: The global slowdown will inevitably affect Ukraine’s trade-open and commodity based economy. The strongest impact will apparently be felt through the "commodity channel", namely demand and prices for steel, which accounts for 34% of Ukraine’s exports. On a positive note, recent consolidation of assets and vertical integration in key export-oriented sectors, including steel and chemicals, strengthened these sectors’ competitiveness and rendered them less exposed to external shocks.

“In most cases there is no doubt about extensive experience and high quality of work of the senior team members, such as managing partners or heads of law firm’s practices,” said Svyatoslav Sheremeta, co-head of the legal department at Dragon Capital.

“Reduction in transit volumes will cause Ukraine to lose about $550 million in revenues from transit next year,” said Denis Sakva, an energy analyst at Dragon Capital, a Kiev-based investment bank.

A delay with the IMF Mission visit to Ukraine till the end of October caused expansion of spreads ofUkrainian Eurobonds. Stocks Ukraine-20 and Ukraine-21 closed at 103.0/103.5 (7.29-7.22 perccents and 7.50-7.43 percents) respectively, debt stock sale department of Dragon Capital informs.

Olena Belan, Chief Economist at Dragon Capital, participated in the survey commenting economic decisions over the years of independence

“External market volatility increases the chances for the IMF program going back on track,” said Olena Bilan, chief economist at Kiev-based Dragon Capital, by phone today.