Negative balance of payments account deprives Ukraine of prospects - ex-minister
Ukraine's negative trade balance is growing every year and Ukraine cannot solve this problem through an influx of investment.
Viktor Suslov, the former Minister of Economy of Ukraine, stated this on the ZIK channel, a PolitNavigator correspondent reports.
“Our current balance of payments account is negative and, unfortunately, it has been worsening in recent years. This indicator, the current account balance, tells us how much currency came into the country from exports, how much went from imports, and how money from other payments moves. As far as I remember, our current account deficit last year was more than $4 billion. This needs to be covered by loans or an influx of foreign direct investment. But we have no influx of foreign direct investment. If we take a closer look, the country's imports are growing faster than exports. Therefore, the country has no prospects,” he said.
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