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Viktor Medvedchuk: Resignation of the government and early parliamentary elections to become a logical outcome of the economic and social collapse in the country

Last week, the Legatum Institute published a global ranking of countries by the level of prosperity – The Legatum Prosperity Index 2020. In 2020, Ukraine took 92nd place in the ranking of prosperity out of 167 countries of the world and the last place in Europe.  According to the Credit Suisse Swiss bank, the level of well-being per adult in Ukraine decreased by 9%.

By the way, Ukraine also ranks last in Europe in terms of the average wage.  The average monthly salary in Ukraine at the end of 2019 amounted to UAH 10497, or $406.  To compare, in Moldova, the average salary in 2019 amounted to 7356.1 lei, or $411.

According to the annual Global Wealth Report 2019 of the Credit Suisse Swiss bank, in 2019, the level of per capita wealth in Ukraine was $8792, while in Moldova -– $12804, and in Belarus – $ 16,590.  In Europe, this figure amounted to $ 153,973, worldwide – $ 70,849.

The study by GfK Purchasing Power Europe reports that in 2019 Ukraine also took the last place among 42 European countries in terms of purchasing capacity with an indicator of € 1830 per capita.  The average per capita purchasing capacity in Poland in 2019 was € 7,589, in Hungary – € 7,416, in Romania – € 5,881, in France - € 20,306, in Switzerland – € 42,067, in Liechtenstein – € 67,550.  The European average in 2019 was € 14,739, which is more than 8 times higher than the corresponding figure in Ukraine.

The economic insolvency of Ukraine is illustrated by a number of macroeconomic parameters, in particular GDP per capita.  According to the World Bank, at the end of 2019 in Ukraine, GDP per capita was $ 3,659, in the world ranking for this indicator our country ranks 122nd. To the word, according to this parameter, Ukraine is inferior even to Moldova ($ 4498) and ranks last in Europe.  For reference, in Poland in 2019, GDP per capita, according to the World Bank, amounted to $ 15,595, in Hungary – $ 16,476, in Romania – $ 12,919, in Bulgaria – $ 9,737, in Belarus – $ 6,663.

Remarkably, this is the course which has been suggested by Zelenskyy and his team during 2019-2020 and which is the main reason for the economic and social collapse in the country.  To validate this conclusion, it is enough to compare the data on the drop in key macroeconomic indicators of Ukraine in September-December 2019, even before the lockdown and COVID-19, along with the parameters of the country’s development during 2020.

Zelenskyy and his team while being in power have shown that they are unable to solve the most important tasks towards peace, economic revival, the fight against the pandemic, and most importantly, overcoming poverty and significantly improving the living standards of Ukrainian citizens.

The logical outcome of such a catastrophic economic failure and anti-social policies has to be the immediate resignation of the government.  Moreover, in order to radically change the economic course, to create a foundation for solving the socio-economic problems created by this government, it needs a radical “reset”, which can only be achieved by holding early parliamentary elections.

Viktor Medvedchuk,

Chair of the Political Council of the OPPOSITION PLATFORM – FOR LIFE party

Опубликовано: 26 November 2020