Kinakh was horrified by the scale of degradation of the Ukrainian economy over the years of independence
If in the early 1990s Ukraine had a more powerful economy than Poland, now it lags significantly behind in many indicators.
President of the Ukrainian Union of Industrialists and Entrepreneurs Anatoly Kinakh stated this in an interview with the UKRLIFE.TV channel, a PolitNavigator correspondent reports.
“In the early 90s, Ukraine produced 25-27% of final products. The remaining 75% are products that were aimed at huge cooperation on the scale of the economy not only of the USSR. And all these cooperation chains were broken.
Ukraine, with the status of an independent state, received an unprecedented legacy. At that time, at the beginning of the 90s, according to experts, not only Ukrainian, but also international, the Ukrainian economy was the fifth or sixth economy in Europe. A very powerful economy, rocket and space complex, aircraft manufacturing, shipbuilding, transport, chemical complex. In the early 90s, we were somewhere 10-15% higher than Poland according to various indicators.
And where are we in 2019, and what is happening with our neighbors? This is a matter of national security and our future. As of January 1, 2019, when we compare the indicators of Ukraine and Poland, this causes great concern. In 2018, Poland’s GDP was $585 billion, Ukraine’s GDP was $115 billion. The difference of five times is not in our favor. Poland’s gold and foreign exchange reserves as of January 1, 2019 amounted to $118 billion, Ukraine – 20 billion. I’m not even talking about other indicators – social standards, wages, demographics and so on,” Kinakh said.
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