Modern condition of Ukrainian economy

Deep recession during the 1990s leading to a relatively high poverty rate, but beginning in 2001, as a result seven straight years of economic growth, the standard of living for most citizens has increased. World Bank report, 2007 notes: "Ukraine recorded one of the sharpest declines in poverty of any transition economy in recent years. The poverty rate, measured against an absolute poverty line, fell from a high of 32% in 2001 to 8% in 2005. UN notes that absolute poverty in Ukraine already was overcome; there is only relative poverty today. The macroeconomics is stable, and the hyperinflation of the 1990s has subsided. Ukraine's currency, the hryvnia, was introduced in September 1996. The economy has continued to grow thanks to exports since 2000, although at uneven speed and being highly affected (circa -15% GDP growth) by the late-2000s recession and the 2008–2009 Ukrainian financial crisis. In general, strong domestic demand, low inflation, and solid consumer and investor confidence have undergirded growth.