Ukraine will have to pay off debts by selling land
The macroeconomic forecast prepared by the Ministry of Economy of Ukraine suggests that the country’s negative trade balance will only grow, and therefore one should not hope for the economic growth that the government is talking about.
Economist and head of the public organization “National Interest of Ukraine” Igor Garbaruk stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“I trust the numbers. When they talk about improvement and so on, I look at the macroeconomic forecast prepared under the signature of the great economic genius, Mr. Milovanov. For example, I look at the negative trade balance indicator. I would like to remind you that last year it amounted to 8 billion 766 million dollars. This is a catastrophe. This is a huge negative trade balance. We see that the economy is not working.
And I see that in 2022, according to the macroeconomic forecast, the negative trade balance should be 25 billion 499 million dollars. What does this mean? The fact that this government has absolutely no plans to develop the national economy, it plans to replace all internal needs at the expense of the economies of other countries, that is, through imports, which will constantly increase.
Will we then have the opportunity to give loans to the same IMF or others if the country’s economy does not generate money? The question is rhetorical. Will we then have the opportunity to repay domestic bonds that were sold at 15-18% to financial speculators? Does the economy generate profits so that we can pay these documents? The question is rhetorical. How will this be repaid? Due to printing money, an ever-increasing budget deficit and due to the same sale of land,” the economist said.
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