Vitold Fokin
Encyclopedia
Vitold Pavlovych Fokin (b. 25 October 1932, Novomykolaivka, Novomykolaivskyi Raion, Zaporizhia Oblast
), the son of a teacher, was appointed first deputy prime minister of Ukraine
in November 1991.
Fokin graduated from National Mining University of Ukraine
in Dnipropetrovsk
. As prime minister he tried to avoid any radical pro-market reforms, however, critics argued that Fokin's inaction, and further credits to various unproductive enterprises contributed to hyperinflation
(1,210% in 1992) and in general to the disastrous performance of the Ukrainian economy. He resigned on 8 October 1992 under pressure from the Verkhovna Rada
and public. Until May 1994, he was vice speaker of the Supreme Rada
. He currently serves as chairman of the supervisory board of AOZT Devon.
Zaporizhia Oblast
Zaporizhia Oblast is an oblast of southern Ukraine. Its capital is Zaporizhia.This oblast is an important part of Ukraine's industry and agriculture.-Geography:...
), the son of a teacher, was appointed first deputy prime minister of Ukraine
Prime Minister of Ukraine
The Prime Minister of Ukraine is Ukraine's head of government presiding over the Cabinet of Ministers of Ukraine, which is the highest body of the executive branch of the Ukrainian government....
in November 1991.
Fokin graduated from National Mining University of Ukraine
National Mining University of Ukraine
The National Mining University , colloquially known in Ukrainian as NGU is located in Dnipropetrovsk, the third most populous city in Ukraine. It was founded in 1899 as the Yekaterinoslav Higher Mining School...
in Dnipropetrovsk
Dnipropetrovsk
Dnipropetrovsk or Dnepropetrovsk formerly Yekaterinoslav is Ukraine's third largest city with one million inhabitants. It is located southeast of Ukraine's capital Kiev on the Dnieper River, in the south-central region of the country...
. As prime minister he tried to avoid any radical pro-market reforms, however, critics argued that Fokin's inaction, and further credits to various unproductive enterprises contributed to hyperinflation
Hyperinflation
In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...
(1,210% in 1992) and in general to the disastrous performance of the Ukrainian economy. He resigned on 8 October 1992 under pressure from the Verkhovna Rada
Verkhovna Rada
The Verkhovna Rada of Ukraine is Ukraine's parliament. The Verkhovna Rada is a unicameral parliament composed of 450 deputies, which is presided over by a chairman...
and public. Until May 1994, he was vice speaker of the Supreme Rada
Verkhovna Rada
The Verkhovna Rada of Ukraine is Ukraine's parliament. The Verkhovna Rada is a unicameral parliament composed of 450 deputies, which is presided over by a chairman...
. He currently serves as chairman of the supervisory board of AOZT Devon.