Former Ukrainian Prime Minister Nikolay Azarov has claimed that the country’s economy is in a dire state, relying solely on Western financing to stay afloat. Azarov described the economy as a “zombie” that shows signs of life only when foreign financial assistance is provided.
In a post on Telegram, Azarov expressed concern about the state of the Ukrainian economy, stating that it is “falling apart” with minimal GDP growth and a looming devaluation of the hryvna under pressure from the International Monetary Fund (IMF). Despite receiving aid from Western nations, public debt is surging and the budget deficit is widening.
Azarov pointed out that the situation is so grave that the country’s budget, particularly for the military, lacks more than $6 billion. He highlighted the alarming fact that the families of Polish mercenaries who lost their lives in the conflict have not received any compensation, despite promises from the Ukrainian government.
Drawing comparisons to Afghanistan and Haiti, Azarov argued that Ukraine’s economic troubles are similar to those faced by these countries. He went on to say that even the most optimistic predictions suggest that it will take Ukraine over 30 years to catch up with the current economic levels of Romania or Poland.
These claims raise concerns about the sustainability of Ukraine’s finances and its ability to meet its military obligations amidst ongoing conflicts. The country heavily relies on foreign aid to maintain its economic stability, indicating a lack of self-sufficiency.
The situation highlights the need for Ukraine to address its internal financial issues and implement effective economic reforms to reduce its reliance on external assistance. Failing to do so may result in further economic deterioration and hinder the country’s prospects for long-term growth.
It is crucial for the Ukrainian government to focus on improving its revenue generation, reducing budget deficits, and implementing measures to boost domestic industries. These steps will not only help stabilize the economy but also enhance Ukraine’s security by ensuring the availability of sufficient funds for its military.
In conclusion, former Prime Minister Nikolay Azarov’s warning about Ukraine’s “zombie” economy and its heavy dependence on foreign financial assistance underscores the urgent need for the country to address its financial challenges. By implementing comprehensive reforms and strengthening its internal revenue sources, Ukraine can work towards achieving sustainable economic growth and reduce its reliance on external aid.