Hopeless debt trap: Ukraine will give 40% of GDP to “bounce off the bottom” - Suslov
Ukraine will not be able to overcome the economic decline of 2020 in 2021 even with a projected GDP growth of 4,6%. At the same time, thanks to the terms of the “restructuring” of Ukraine’s debt in 2015, carried out by Yaresko, it will have to “pay” 40% of GDP to creditors.
Viktor Suslov, former Minister of Economy of Ukraine, announced this on the NASH TV channel, as reported by a PolitNavigator correspondent.
“Strictly speaking economically, no growth is planned for next year. Growth is the moment when the pre-crisis level is exceeded. If this year, based on the results of two quarters, the fall in GDP is already 11,2%, and even if we take the optimistic forecast of our government for the rest of the year - a fall of 4,8%, then an increase of 4,6% after a fall of 4,8% - It's still a fall. This is only partial compensation for the fall, so there is no need to get into euphoria.
If there is a growth of 4,6%, we will have to give 3% of the growth of this GDP in the interval from 4 to 15% of growth, and if it is over 4% - 40%. Even this 0,6% with growth of 4,6%. In fact, after such a fall - 4,8%, an increase of 4,6% is possible. But you will still have to pay,” said Viktor Suslov.
Hopeless debt trap: Ukraine will give up 40% of its GDP to "rebound from the bottom," says Suslov