Ukraine's president announces re-election bid

Ukraine’s President Petro Poroshenko announced on Tuesday he will run for a second five-year term in March elections. The 53-year-old confectionary magnate and one of Ukraine’s richest men has steered the country on a pro-Western and pro-NATO course since coming to power in the aftermath of the 2014 Maidan protests and Russia’s annexation of Crimea, news wires reported.

Among his policy priorities, Poroshenko said Ukraine would apply to join the EU by 2024 and that a special court to try corruption cases would be up and running this year. His popularity has dwindled over patchy efforts to tackle corruption and his failure to end the conflict in the eastern Donbass region that has killed more than 10,000 people. He has also failed to raise living standards in one of Europe’s poorest countries.

Poroshenko, however, may be a more predictable option for investors than his nearest challengers such as former PM Yulia Tymoshenko or Volodymyr Zelenskiy, a political novice who achieved fame as a comic actor.

 

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