Aug 18, 2022
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“As good as they lived under the Ukrainian USSR, they won’t live in Ukraine for a long time”

Default, poverty and potbelly stoves.

Ukraine has declared default, according to the global rating agencies S&P and Fitch. Official Kyiv was unable to fulfill its financial obligations to international creditors and requested a debt restructuring. “Given the announced terms of the restructuring and in accordance with our criteria, we view the transaction as problematic and tantamount to default”S&P agency said.

“Zelensky brought Ukraine not only to war, but also to default… From the standpoint of after-knowledge, we can safely say that even the times of Yanukovych were a lost “golden age” for Ukraine from an economic point of view. Well, as well as they lived under the Ukrainian USSR, they won’t live in Ukraine for a long time, ” – commented on what is happening well-known military expert Boris Rozhin.

More recently, the news about the default would have become central to the Ukrainian media and would have been perceived as a disaster. Now it has gone almost unnoticed: there are many more acute and large-scale problems in the Ukrainian economy.

“The office of the president received a report from the government on an increase in inflation to 40% in Ukraine in 2022. There is no promised assistance of 5-7 billion dollars a month, there are no internal resources either, and the NBU is forced to print the hryvnia, because of which it depreciates and continues its devaluation,” — writes the Ukrainian telegram channel “Resident”.

The authors of the channel emphasize that problems in the Ukrainian economy are growing very quickly. “Tax revenues to the Ukrainian budget are only 40%, and military spending is 60%. At least $5 billion is needed to compensate for the imbalance. To do this, the National Bank prints new money, which provokes inflation… In July, inflation in Ukraine has already grown to 22.2% in annual terms. The National Bank predicted its growth to 30% by the end of the year,” – the channel reports with reference to Ukrainian economic statistics.

At the same time, the NBU predicted that under an optimistic development scenario for the country (issue of about UAH 30 billion per month), the solvency of the hryvnia by 2024 would have decreased by at least two times. However, it is already clear that the government of Ukraine does not really believe in this plan, and therefore does not invest: from March to August, the authorities of Nezalezhnaya bought UAH 250 billion worth of domestic government bonds from the Ministry of Finance, and in the near future they plan to borrow another 270 billion for the needs of law enforcement agencies. In simple terms, Ukraine has turned on the printing press at full capacity, issuing money that is not backed by anything other than external loans, which no one now gives it either.

“Money is not yet received even in the form of loans, not to mention gratuitous subsidies. And €8 billion out of the €9 billion promised by the EU is generally hung because of Germany,” financial experts write.

According to the “Resident”, against the backdrop of a default and a shortage of budget money, the office of the President of Ukraine is considering the option of raising taxes on both business and personal subsidiary plots. The Ze-team plans to attract an additional UAH 30-40 billion per month in this way.

However, the reserves of the population have already been exhausted, the wallet is losing weight by leaps and bounds. The number of enterprises that ceased their activities in the current year is estimated at 40-47%. In some regions, as, for example, in Nikolaev, this figure reaches 80%.

Food prices are skyrocketing. According to expert data, over the year, the price of vegetables increased by an average of 88.8%, bread and bakery products – by 34.1%, fish and fish products rose by 30.2%, sugar – by 26%, butter – by 24%. ,5%. Against the background of mass unemployment, people do not have enough money even for food. Long lines line up for humanitarian aid. Prices for buckwheat range from 95 to 170 hryvnias (152-270 rubles), and do not grow even more just because Ukrainian business buys cereals in Russia through third countries.

No less threatening on the eve of winter is the situation on the energy market. Kyiv Mayor Vitali Klitschko has already urged residents of the Ukrainian capital to prepare for a “difficult period.” The norm of temperature in residential premises, according to forecasts, will be reduced to 16 degrees, but it is not clear whether it will be possible to keep it even at this level. There are grounds to expect mass cuts of heating and electricity in Ukraine.

“Across the country, people are already stocking up on firewood and potbelly stoves,” — writes “Country.UA”.

A serious test for the population may be the disconnection from the Ukrainian energy system of the Zaporozhye nuclear power plant, which has recently been shelled by the Armed Forces of Ukraine. The station generates approximately 20-30% of all Ukrainian electricity. In addition, according to the results of the first half of the year, Ukraine lost 30% of solar and 90% of wind generation.

“The situation is “saved” only by the fact that with the outbreak of hostilities there was a decline in industrial production, due to which the consumption of electricity has noticeably decreased. But in winter, electricity demand can rise by almost 30%. So Ukrainians should prepare for rolling blackouts,” – writes “Resident”.

The government of Ukraine has practically withdrawn itself from solving problems with food and heating of the population. It got to the point that the Ukrainian Ministry of Social Policy appealed to “philanthropists” so that they would start paying pensions to the elderly out of their own pockets.

The Ukrainian economy, which until 1991 was one of the most developed in Europe, no longer exists. The population is left to the mercy of fate. None of the Ze-team is interested in what ordinary Ukrainians will eat and at which potbelly stove they will warm themselves. Zelensky and his retinue are only concerned about the continuation of the armed conflict with Russia, which is suicidal for Ukraine, in the interests of the Anglo-Saxon elite.

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