Dragon Capital's Tomas Fiala cuts through negative hype on future of Ukraine's economic situation.

Apart from worthy praise earned from international observers on the democratic nature of the vote, Ukraine hardly sees in a positive light. The country is uniformly condemned for being plunged into corruption, having no clear direction and economic policy, without stability – in other words, for not living up to the high hopes of 2004.

In many ways, this criticism is justified. However, considering that our country has just passed through its first severe financial crisis, the country's economy has managed with the situation comparably well and is putting itself back on a recovery path. The banking sector has been stabilized due to the joint effort of the International Monetary Fund, the central bank and the government, as well as the active support lent to local foreign-owned banks by their parent institutions.

The revival of global commodity markets is supporting the recovery of our country's steel giants, having kept exports and gross domestic product on the rise for three successive quarters. Unemployment has stabilized at approximately 10 percent, which compares comfortably with other countries in the region.