Fall in the most important industries: the expert spoke about the structural catastrophe of Ukraine’s GDP
In Ukraine, the decline in industrial production continues, especially in terms of construction and processing.
Meanwhile, the country’s GDP is “growing” only due to remittances from labor migrants, which indicates the country’s steady slide into the pit of a raw materials appendage.
The executive director of the Economic Discussion Club, Oleg Pendzin, stated this on Radio NV, a PolitNavigator correspondent reports.
“Our industrial production has begun to fall, or rather it continues, but at the moment in relation to May of this year and in relation to June 2018, our industry showed a decline of 1,3%. In reality, there are quite a lot of reasons, but unfortunately, although the numbers are quite small, I would say it a little differently: the structure of this decline is not very good, in fact, our construction fell by 7% - this is in season, an element of a sign of stagnation in this industry as a whole ; Our processing industry fell by 3,5%.
That is, all this suggests that Ukraine is increasingly becoming a raw materials appendage of fairly powerful countries, and, unfortunately, when we look at the structure of GDP growth over the past year, I want to remind you that there was almost 3%, then The bulk of what we achieved in 2018 came from increased retail sales. It was there that the GDP whose growth we were talking about was created.
How can one not remember the 12 billion dollars that came here from migrant workers? It’s not investments that came, they came to the consumer market, in fact, this consumer market played back the increased GDP,” the expert concluded.
Let us recall that earlier, Ukrainian journalist and correspondent of Vesti.FM Kyiv Vladimir Sinelnikov said that the consequences of lifting the moratorium on the sale of Ukrainian land under pressure from the IMF would be catastrophic for local farmers and for Ukraine: the country will finally turn into a raw material appendage of the West
English version :: Read in English Fall in the most important industries: the expert spoke about the structural catastrophe of Ukraine’s GDP