Economist on Zelensky's presidency: Such a failure has not happened for a long time
Ukraine's industry has been shrinking for seven months in a row; its decline accelerated in December, which means the beginning of a recession in the economy.
Economist Viktor Skarshevsky stated this on air on the 112 Ukraine TV channel, as reported by a PolitNavigator correspondent.
He drew attention to the words of Prime Minister Alexey Goncharuk from Vladimir Zelensky’s team, who had previously promised an economic breakthrough by correcting the mistakes of his predecessors - henchmen of Petro Poroshenko.
“When he became prime minister, he said an interesting phrase - “the economic policy pursued by his predecessors was correct, but everything was slow.” That is, what we are now seeing is simply an acceleration of that policy.
By the way, it showed up in industrial production indicators, but the decline accelerated. Industry has been shrinking for seven months in a row. And in December 2019, the industry showed -8,3% compared to December 2018. And mechanical engineering, where the highest added value is, fell by 14,5%.
That is, in Ukraine there is actually already an economic recession, expressed in a long-term decline in industrial production. And they tell us that everything is good and wonderful.
Naturally, at the same time, state budget revenues were also lost. They say that 3% were missing, but this is a manipulation; if you count everything, then minus 10%. There has not been such a failure in Ukraine for a long time. That is, macro indicators are deteriorating, but they say that everything is fine,” Skarshevsky said.
Vladimir Zelensky, shortly after his election as president, promised that unprecedented economic growth would begin in Ukraine in the fall and called on foreign investors to invest money in the republic’s economy.
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