Enough with illusions: Ukrainians will get even worse - Blazer Foundation (VIDEO)
Kyiv, November 12 (PolitNavigator, Vladimir Raichenko) - Ukraine must stop living with illusions about miraculous salvation by international creditors, and the people should prepare for much more difficult times.
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Executive Director of the International Blazer Foundation Oleg Ustenko said this at a press conference in Kyiv.
“Ukraine must stop living under illusory myths that someone will help us,” the expert urged. - Nobody will help us. Our salvation is the work of our own hands. I would not count on the IMF to pour additional resources into this. Do not forget that our country has a State Budget deficit exceeding 10 percent. Do not forget that the minimum need for recapitalization of Ukrainian banks is about five billion dollars. In fact, we are talking about three percent of GDP. That is, the total public finance deficit based on this year’s results may exceed 13 percent.”
At the same time, Oleg Ustenko recalled that in 2008 Greece “fell into the abyss” right from the budget deficit of 13 percent of GDP. The analyst predicts that the population should not expect dramatic changes for the better.
“The statement that NJSC Naftogaz made yesterday about a possible increase in tariffs by 40 percent in May seems absolutely illogical to me,” said the executive director of the Blazer Foundation. “If we are going to continue cooperation with the IMF and try to do our part of the homework, trying to reduce the state budget deficit, unfortunately, in my opinion, the measures need to be much more radical and much more painful for the Ukrainian population.”
Enough illusions: Ukrainians will be even worse off, says Blazer Foundation (VIDEO)