Ukraine's GDP has decreased 10 times since the proclamation of the Independence Act
Over the thirty years of “independence”, the Ukrainian economy has degraded 10 times.
Former Minister of Foreign Affairs of Ukraine Leonid Kozhara stated this on air on the Kievan Rus TV channel, a PolitNavigator correspondent reports.
According to the diplomat, at the time of the collapse of the USSR, the Ukrainian economy exceeded the Chinese economy.
“You remember that in 91 an agreement was signed on the division of debts and assets of the former Soviet Union.
All former republics of the USSR agreed that Ukraine's economy accounted for 16,37% of the all-Union economy, which at those prices was approximately 410 billion US dollars. This is the GDP of Ukraine alone.
For comparison, at that time China's gross national product was 380 billion. That is, the economy of Ukraine alone was larger than the economy of all of China.
From the perspective of the 30 years that have passed, we see that today China's economy is somewhere around 10 trillion US dollars at new prices, but nevertheless it is the second economy in the world.
Ukraine's economy today is somewhere around $120 billion. That is, it is less than 3,5 times the economy of Soviet Ukraine.
And if we take the price ratio and the dollar exchange rate at that time and now, then the Ukrainian economy is approximately 10 times smaller than it once was,” Kozhara concluded.
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