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#Commentary of Marina Zheynova on Ukraine’s world leadership in anti-rating on GDP growth

The next populist statements of the President of Ukraine that “the country is demonstrating economic growth for five consecutive quarters” are lost on the hard facts of statistical data.

Thus, according to a study by GFK Ukraine, commissioned by the International Republican Institute (IRI) with the financial support of the United States Agency for International Development (USAID), 35% of respondents believe that the economic situation in Ukraine has deteriorated significantly over the past year, 33% state it has deteriorated to a certain extent. And only 1% of respondents felt a significant improvement in the economic situation. Most Ukrainians do not favour the rise in food prices, military actions and increasing unemployment.

And this is not surprising. Foreign creditors are unhappy with the snail’s pace of reforms that are taking place in Ukraine, in particular the fight against corruption that has become the talk of the town, as well as pension reform and privatization. The volume of foreign investment in the past few years has fallen sharply, because who on Earth wants to invest in the economy of the country, where no minimum guarantees can be given by the authorities.

In terms of GDP per capita, Ukraine fell below almost all countries of the African continent and remains the poorest country in Europe, which it strained after so much. And not only of Europe. For example, in Honduras, which is jokingly compared to the ‘independent’, GDP, unlike the Ukrainian one, has not fallen over the past 24 years, but grew by 121%. In general, the situation is that, according to the World Bank, Ukraine has shown the worst result in the world in the last 24 years. During these years, the real GDP of Ukraine decreased by 35%, and the growth rate of world GDP was 87.7%.

Volumes of industrial production in Ukraine are catastrophically falling, hopes for a free trade zone have not been justified due to strict quotas. And there is no money to support the social sphere and the housing and communal services sector. Therefore, all the hardships fell on the shoulders of an ordinary citizen in the form of exorbitant tariffs for utilities. And a medical reform is still underway…

As a result, thanks to the ‘post-Maidan’ leadership, Ukraine has become an object of geopolitics and mere token money. So which way, in the opinion of the Ukrainian president, is the economy growing?

Marina Zheynova, the DPR People’s Council deputy

Official website of the DPR People’s Council

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