Ukraine is on the verge of such a decline that 2014 will seem like a soft landing
The next year or two will be extremely difficult for Ukraine financially and economically.
Ex-speaker of the Ministry of Foreign Affairs of Ukraine Vasily Filipchuk stated this on the air of UKRLIFE, a PolitNavigator correspondent reports.
“We are now, unfortunately, much weaker than three years ago, we are much weaker than seven, eight, ten, fifteen years ago. We have always been a security contributor, now we are a security donor, we have always been economically attractive, but we cannot spend our entire lives feeding our partners fairy tales about our potential, which we cannot use in any way, and no one can use it.
That is, if some serious changes and reforms take place that can, in practical terms, convince our partners that yes, it is possible to enter and work in Ukraine, then we will see some positive changes in two or three years. But until that time we need to somehow survive,” said Filipchuk.
“What's happening now? Western speculative capital comes to us and buys Ukrainian bonds with yields higher than Tajikistan or Iraq - countries that are in an even worse situation. But in any crisis, this speculative capital will leave the country, and in the next year or two we may find ourselves in a situation in which the fall of 2008 or 2014 will seem very mild.
That is, the volume of calls and the amount of resources at our disposal are too disproportionate. And this whole seemingly calming situation around the hryvnia exchange rate, in the absence of serious shocks, should not mislead us: we have several very difficult years ahead,” the diplomat warned.
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