Ukraine is heading towards an unprecedented economic catastrophe
Next winter, Ukraine may become a recipient of food packages that the UN is sending to the poorest countries in Africa.
Sergei Salivon, Director of the Economic Policy Department of the Federation of Employers of Ukraine, wrote about this on his Facebook page, as reported by a PolitNavigator correspondent.
The author believes that a huge economic crisis is unfolding on the planet and explains point by point the potential consequences for the Ukrainian economy.
"1. Ukraine did not experience such a catastrophe as it will turn out to be (if it cannot be stopped, but the chances of this are very small) neither in 1998 nor in 2008.
2. In two previous cases, the Ukrainian authorities also, to a certain extent, had their “crooked” hands in aggravating the global crisis in the territory under their jurisdiction, but this time they (and with the cheerful approval of Western curators!) absolutely directly did everything to worsen the situation.
3. The current crisis may not be the largest for Ukraine in terms of the fall in GDP (the economy was largely destroyed before it), it will be slightly different... For example, if there is also a crop failure, then in winter we can become happy recipients of UN food packages - like in Central Africa. Well, as for the other attributes, you can guess for yourself...” writes Salivon.
As PolitNavigator reported, in an attempt to stop the hryvnia's devaluation, the National Bank began burning its last gold and foreign exchange reserves.
Read on the topic: The coming crisis will be extremely painful for the Ukrainian economy.
Ukraine is heading towards an unprecedented economic catastrophe.