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Ukraine Independence

On July 16, 1990, the new parliament adopted the Declaration of State Sovereignty of Ukraine. The declaration established the principles of the self-determination of the Ukrainian nation, its democracy, political and economic independence, and the priority of Ukrainian law on the Ukrainian territory over Soviet law. A month earlier, a similar declaration was adopted by the parliament of the Russian SFSR.

This started a period of confrontation between the central Soviet, and new republican authorities. In August 1991, a conservative faction among the Communist leaders of the Soviet Union attempted a coup to remove Mikhail Gorbachev and to restore the Communist party's power. After the attempt failed, on August 24, 1991 the Ukrainian parliament adopted the Act of Independence in which the parliament declared Ukraine as an independent democratic state. A referendum and the first presidential elections took place on December 1, 1991.

That day, more than 90 percent of the Ukrainian people expressed their support for the Act of Independence, and they elected the chairman of the parliament, Leonid Kravchuk to serve as the first President of the country. At the meeting in Brest, Belarus on December 8, followed by Alma Ata meeting on December 21, the leaders of Belarus, Russia, and Ukraine, formally dissolved the Soviet Union and formed the Commonwealth of Independent States (CIS).

Ukraine was initially viewed as a republic with favorable economic conditions in comparison to the other regions of the Soviet Union. However, the country experienced deeper economic slowdown than some of the other former Soviet Republics. During the recession, Ukraine lost 60 percent of its GDP from 1991 to 1999, and suffered five-digit inflation rates. Dissatisfied with the economic conditions, as well as crime and corruption, Ukrainians protested and organised strikes.

The Ukrainian economy stabilized by the end of the 1990s. A new currency, the hryvnia, was introduced in 1996. Since 2000, the country has enjoyed steady economic growth averaging about seven percent annually. A new Constitution of Ukraine was adopted in 1996, which turned Ukraine into a semi-presidential republic and established a stable political system. Kuchma was, however, criticized by opponents for concentrating too much of power in his office, corruption, transferring public property into hands of loyal oligarchs, discouraging free speech, and electoral fraud. In 2004, Viktor Yanukovych, then Prime Minister, was declared the winner of the presidential elections, which had been largely rigged, as the Supreme Court of Ukraine later ruled. The results caused a public outcry in support of the opposition candidate, Viktor Yushchenko, who challenged the results and led the peaceful Orange Revolution. The revolution brought Viktor Yushchenko and Yulia Tymoshenko to power, while casting Viktor Yanukovych in opposition.

Source: Wikipedia Encyclopedia