Ukrainian Deputy Viktor Bondar Explained How the West Is Destroying the Economy of Ukraine

Translated by Ollie Richardson & Angelina Siard

20:51:40
06/03/2018

Revival party


The policy of western creditors in relation to Ukraine is aimed not at the development of the economy, but at its further destruction, the accumulation of external debts, and the transformation of the former Soviet republic into an agrarian appendage.

This was stated during a round table in the Verkhovna Rada by the deputy Viktor Bondar.

“Today we are the witnesses of a new stage of the country’s development, where, under the influence of western creditors, a completely new economic model is being impose on Ukraine, which today, according to the majority, isn’t the right direction for the development of the country.

Today we are proposed a model according to which our country will turn into an agricultural/raw-material appendage of modern European countries. In fact, we are artificially led to a policy of deindustrialising the country through the demands of creditors.

If we look more attentively, then this can be seen in all programs that are today supported by international economic institutions.

This is also reflected in programs that are imposed on the government: social ones, or those that involve a number of reforms that currently don’t work.

Any attempts to support domestic manufacturers and to protect large industrial enterprises are simply nipped in the bud.

Before us is a policy of survival, where, to please large financial institutions, Ukraine is being led to a series of reforms, from which an exit isn’t yet seen.

The policy of the National Bank also is absolutely senseless. We see the same policy in the policy of State-owned banks, which, in fact, today lend to foreign companies and kill their own Ukrainian production.

Before us is a completely stupid governmental policy in relation to industry, which is now virtually non-existent, and there isn’t anybody in the government who could be responsible for the industrial sector.

We also see an enormous accumulation of debt: today Ukraine has more than two trillion in external debts. Unfortunately, there is no answer as to how these will be paid back.

In addition, we know that in the next 30 years Ukraine has to pay back more than 30 billion dollars of external loans, and this is an enormous load on the budget of the country. We don’t see any programs that could stimulate an inflow of investments into the State budget, especially in industrial production.

From all of this it is possible to draw the conclusion that there is no State policy in relation to Ukraine’s industrial branch,” said Bondar.

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