Mechanical engineering is dying after light industry in Ukraine
The Ukrainian economic model is becoming similar to the Latin American one, when raw materials and labor migrants become the main sources of foreign currency entering the country.
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Financial analyst, advisor to the President of the Association of Ukrainian Banks Alexey Kushch stated this in an interview with Kraina magazine.
“Recently, the hryvnia has become similar to Latin American currencies. The Ukrainian economy is acquiring the features of the Mexican model: raw materials plus migrant workers. We receive export revenue from grain, sunflower oil and other agricultural goods. Another part of the balance of payments is transfers from workers. There is almost no industry that previously leveled this trend. For 25 years, segments of the economy with a high level of added value have been systematically eliminated. The first to disappear was light industry, where it was highest. Now it’s mechanical engineering,” the analyst said.
Following the light industry in Ukraine, mechanical engineering is dying.