Past Ukrainian Premier warns of economic challenges, dependency on Western aid
Date
9/19/2023 8:41:47 AM
(MENAFN) In a statement made on Monday, former Ukrainian Prime Minister Nikolay Azarov made a striking assertion regarding the state of Ukraine's economy, likening it to a "zombie" that only exhibits signs of vitality when infused with financial support from Western sources. Azarov expressed his concerns about the dire condition of the national economy, noting its steady deterioration and dependency on Western financing to sustain any semblance of activity.
According to Azarov, Ukraine is grappling with a myriad of economic challenges, including minimal GDP growth and the looming threat of the hryvna, the national currency, experiencing devaluation. He attributed this potential devaluation to the pressures exerted by the International Monetary Fund (IMF), suggesting that external influences are significantly impacting Ukraine's monetary stability.
Furthermore, Azarov highlighted that despite receiving substantial aid from Western nations, Ukraine's public debt continues to surge, and the budget deficit is expanding. These trends indicate a concerning financial situation, even in the face of external assistance.
In essence, Azarov's remarks shed light on what he perceives as a precarious economic situation in Ukraine, characterized by heavy reliance on Western funding to keep the economy afloat. The challenges mentioned, including slow GDP growth, currency devaluation, mounting public debt, and budget deficits, underscore the complex financial landscape that Ukraine currently navigates. This assessment raises questions about the nation's long-term economic stability and its ability to address these pressing fiscal issues.
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