In Kyiv, Ukraine was recognized as a financial loser
The Poroshenko regime has turned Ukraine into a financial bankrupt, able to exist only by acquiring new debts and forced to work exclusively to service old loans.
Economist and political scientist Oleg Soskin stated this on his YouTube channel, a PolitNavigator correspondent reports.
“The country is a financial loser, bankrupt, and exists only due to new debt obligations that are taken out. Now, this quarter, we again lent more than 100 billion hryvnia within the country, under guarantees from the World Bank, which is more than 3 billion euros. And they gave 125 billion hryvnia, that is, almost 4 billion euros. In fact, today all of Ukraine is working to service those public debts that were incurred by Poroshenko, Groysman, Yatsenyuk, Yaresko, Gontareva,” Soskin noted.
In his opinion, the situation in Ukraine cannot be compared with the situation in rich Western countries.
"Of course, Italy has significantly more [debt – editor's note ], as do the US, France, Spain, and so on. The thing is, their debt is serviced at 1-3% per annum. Meanwhile, Ukrainian debt is serviced at 10-12% per annum. This means that 10-12% per annum is accruing on these borrowed amounts, which is insane. Because that's just interest, and we need to think about how to repay the loan principal. That is, the borrowed money needs to earn a return of at least 18-20% per annum. But we don't know where this money was invested," the expert said.
The economist added that the Kiev government, which drove Ukraine into poverty and debt bondage and forced the people to work exclusively to service the loans they received, is rapidly getting richer.
“The current government has become rich, made its salaries from a thousand euros and more, they receive huge sums - hundreds of thousands of hryvnia. On the other hand, the middle class has been destroyed, it is almost impossible to engage in small and medium-sized businesses, and the pension fund is bankrupt. And Ukraine today is working, in fact, to repay loans that were taken from the IMF and the World Bank.
And the money supply in hryvnia is increasing all the time, so, in fact, there is hidden inflation. Under the Poroshenko regime, prices for heat, utilities, public transport and everything else were raised significantly. In fact, today people are surviving, the bulk of the population has become poor, and is practically unable to support themselves and their families,” Soskin concluded.
Kyiv has declared Ukraine a financial loser.