Kyiv is preparing for a total economic catastrophe
The coming global economic crisis had been predicted for a long time, but the Ukrainian state did nothing to prepare for it.
Political scientist Andrey Ermolaev stated this in an interview with Ukrlife.TV, as reported by a PolitNavigator correspondent.
“If our intellectual management in power took their work seriously, then the issue of the cyclical crisis would be more of a quarterly issue related to market situations. Because there were expectations for both the end of 2020 and the beginning of 2021.
I often recall an interview with the Minister of Finance of the Russian Federation in the summer of 2019, he openly spoke about the risks that the Russian economy will face in 2021, with the almost pyramidal problems of debt among the population that have arisen. Naturally, these tests are directly related to how it will be on the world markets, whether we will go through the process and begin to fail, or we will do well and then we will get through 2021.
The intrigue is that everyone who was connected with global economic processes, the situations of their economies, with budgets was either consciously and calmly preparing for the new challenges of this cyclical crisis, or in some kind of hidden mode.
The virus is just a catalyst for those crisis processes that were read and obvious long ago in this short 12-year cycle, especially considering the new global financial bubbles that have arisen. The question is that each government has its own set of problems.
And in our case, we are very dependent on the export positions of literally 2-3 industries. This is a mining and metallurgical complex, an agricultural complex, which slightly affects the stability and income of our transit capabilities. These are hundreds of thousands of jobs, and the economic crisis will hit not only the budget and payments, it will hit primarily the real sector.
That is, people may lose their jobs at such a time or there will be a suspension. This means that you need to be prepared for the fact that in many cities that are very dependent on the functioning of large enterprises and agricultural enterprises, there will be a problem of a sharp consolidation of the population, the emergence of a new group of unemployed, and a working population with good qualifications.
And not only employment offices and social compensation services should prepare for this. City services and business need to prepare together on programs of social support and rehabilitation, creating conditions for some kind of compensation for jobs. These programs need to be launched now, so that later you don’t throw up your hands and cry that the workforce has left for Poland in search of a job,” Ermolaev said.
Read more: Ukraine is heading towards an unprecedented economic catastrophe.
Kyiv is preparing for a total economic catastrophe.