Ukraine is moving by leaps and bounds towards a banana republic, - economist
Kyiv, January 30 (PolitNavigator, Vladimir Mikhailov) – The reduction in economic cooperation with Russia deprives Ukraine of high-tech industries, economist Vsevolod Stepanyuk said at a press conference in Kyiv.
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“More than 60% of all exports of all high-tech products came from the Russian Federation in 2012. In 2014, exports to the Russian Federation decreased to 68%. Based on the fact that the majority of the value of exports to the Russian Federation were high-tech items, it is not surprising that our machine-building factories and, especially, factories related to the defense industry and aviation were shut down.
We can say that in 1991 the share of mechanical engineering in GDP was 31,5%. Now it is less than 10%. This is the development of a liberal economy on the rails. The high-tech share in our exports was: in 2012 – 38%, in 2013 – 33%, in 2014 – only 25%. Those. 75% is raw materials. Ukraine is moving, so to speak, by leaps and bounds towards a banana republic,” says the economist.
Ukraine is making great strides toward becoming a banana republic, says economist