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The government does nothing for the real growth of the Ukrainian economy

Правительство ничего не делает для реального роста украинской экономики

Projected GDP growth to more than 11% and a reduction of inflation to less than 5% over three years suggests that the government does not think about economic growth.

Projected GDP growth to more than 11% and a reduction of inflation to less than 5% over three years suggests that the government does not think about economic growth.

This commentary, ГолосUA said economist Viktor Skarshevsky.

“GDP growth of more than 11% and a reduction of inflation to less than 5% over three years suggests that the Ukrainian economy will not recover, as GDP in the two years fell by 17%. An increase of 11% says that it is minus 6 %, which the domestic economy after the crisis and fall, and not be able to grow. Accordingly, the government does not think about economic growth. In order to talk about some of the growth must first recover from the fall, at least make the so-called recovery growth. And our government predicts that even by 2020, our economy will not recover in relation to 2013. Although after such a sharp fall with a normal government and investment climate, the growth of the Ukrainian economy would be about 10-15%”,- said Viktor Skarshevsky.

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The economist noted that Ukraine’s debts to be paid more than growing its economy.

“This year, foreign debt Ukraine pays 5% of GDP, and GDP growth is expected to only 2%. We are the debts paid more than the economy is growing and while we are in the red. And in 2018 , 2019 and 2020, the figure comes to 10% of GDP, meaning the payment on the national debt. GDP growth of 11% over three years – similar to the arithmetic calculations of the Ministry of Finance, not a reasonable forecast. In fact, the domestic economy has been, and remains stagnant,” – concluded V. Skarshevsky.

We will remind, the Ministry of Finance expects growth of gross domestic product (GDP) to more than 11% and a reduction of inflation to less than 5% within 3 years. This was during the presentation of the budget resolution until 2020, said Finance Minister Oleksandr danylyuk.

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“It is expected that within three years, the GDP will grow by more than 11%, and inflation will be reduced to less than 5%”, – he said.

The Minister added that the proposed budget resolution for the medium term based on macroeconomic indicators, which have been approved by the Cabinet of Ministers in late may.

On may 31 the Cabinet of Ministers approved the forecast of growth of gross domestic product of Ukraine by 3-4% in 2018-2020.

According to the moderate scenario, which is taken as a basis by the government, in 2018, the GDP growth will amount to 3% in 2019 of 3.6% in 2020 – 4%.

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