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Translated by Ollie Richardson


The Ukrainian government, which is wallowed in corruption, has no finances in order to pay huge sums to international creditors over the next few years.

As the executive director of the Blazer Foundation Oleg Ustenko in an interview to the “Fokus” magazine notes, over the next few years Kiev will have to pay nearly $4 billion in 2018, then almost as much in 2019.

“Ukraine will have to pay a large number of external debts. In particular, nearly $4 billion in 2018, then almost as much in 2019. After that we will pay $5 billion annually up to 2021. Ukraine has no such money. If cooperation with international financial institutions stops, it will lead to an imbalance in the financial sector,” he stated.

As was reported earlier, Ukraine continues to overcome economic obstacles, however this is only because of the West’s financing, which makes it financially unstable as it is under the influence of another State. At the same time the country’s national debt continues to grow, which Ukrainians will be paying off for many years to come.

To somehow smoothen out the situation, politicians constantly raise tariffs for the population. It is known that the Cabinet of Minsters warns that as of 2018 in Ukraine an increase in utility tariffs at a minimum of 20% is predicted.

Thus, in 2018 a 19% rise in the price of tariffs for gas and a 20% increase for heating, hot water, and electricity are possible. A rise in the price of utility tariffs in 2019 is predicted: 12.5% for natural gas and 17.5% for hot water, heating, and electricity. In 2020 a 10% growth in tariffs for gas and electricity and a 19% rise for hot water and heating are also expected.

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