‘Loan addiction’ of the government to jeopardize Ukrainian economy and citizens
The government has failed to implement the budget. A month before the end of the budget year, every tenth hryvnia of government spending was not funded, the budget gap exceeded UAH 100 billion. The expenditures on healthcare, education, and social protection of citizens were underfunded. The authorities buried money in the asphalt, generously paid space salaries to officials and the expenses for the government’s maintenance.
To close the hole in the budget, Ze-team could cut spending on security forces and bureaucrats, put things in order at customs, stop tax ‘schemes’, help people and the economy. It could start negotiations with external creditors to defer payments on external obligations. Instead, ‘loan addicts’ rushed to collect debt, regardless of the price and the risks. On the domestic market alone, the government borrowed UAH 71,4 billion in December (net of repayment). This is more than in the previous eleven months. Loans were taken at extremely high interest rates – up to 12% and higher.
This policy of Ze-team creates risks for the country’s financial stability. The debt pyramid is growing. More and more money is spent on interest payments. The state has less and less resources to stimulate the economy and help people. The Ze-government is purposefully pushing Ukraine towards bankruptcy and sale of national wealth, and citizens – towards poverty.
THE OPPOSITION PLATFORM - FOR LIFE party demands an immediate revision of the budget for next year. We call for harshly cutting all expenses for the maintenance of the government, cutting funding for security forces and officials, and beginning negotiations on the restructuring of foreign debt.
To prevent Ukraine from sliding into bankruptcy and national disaster, the government of ‘loan addicts’ must be dismissed. Ukraine needs a government that will ensure economic growth, competent management of state assets, increase in citizens’ incomes and filling the budget.