The Ukrainian “elite” convinced the population and gradually came to believe that only foreign loans and investments can boost the economy. The result was Kyiv’s dependence on foreign capital and the destruction of entire sectors of the economy.
Former deputy head of the National Bank of Ukraine Sergei Yaremenko spoke about this at a press conference.
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“Society, the expert community, has accepted that without IMF tranches there will be no economic growth. Economic growth is associated only with foreign investment. The dominant position is always that there is no source of economic growth within the country, and only foreign investment can do something.
The national elite, represented by the government and parliament, have been taught not to think about where we should go and how to develop - foreign capital itself knows better where to invest, the market itself will regulate everything.
Such an ostrich policy led to what we are seeing - deindustrialization, the loss of industrial strongholds in high-tech areas. We remain in those sectors that form such agricultural and raw material integration of Ukraine into the global division of labor,” says the expert.
In the fall of 2016, Russian President Vladimir Putin, speaking at the BRICS summit about the replacement of Ukrainian products in the military-industrial complex, noted degradation and deindustrialization in Ukraine.
“We see that, unfortunately, degradation is happening there, what we talked about is the deindustrialization of the country,” Putin said.