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  • Volodymyr Groysman: Ukraine’s economy is balanced, though we need external support to pay off previously accumulated debts
    Information and Communication Department of the Secretariat of the CMU, posted 18 November 2018 14:30

    The economy of Ukraine is growing for 11 consequtive quarters and is considered balanced in the light of satisfying the country's needs and providing further growth. However, the state still needs external support in order to roll over the debts and repay the past debts of 2008-2013 on the peak years. The Prime Minister of Ukraine Volodymyr Groysman stressed on the air of the VITA TV channel.

    "The economy is growing for 11 quarters in a row. This means that we see the upturn. In fact, if to access the needs of the State, everything seems fine, we are balanced. But if to look at debts, we need external support in order to roll over the debts, to repay previous debts. The years of 2019-2021 are the peak years to pay off", emphasized Volodymyr Groysman.

    Meanwhile, the PM stressed the money was to be taken under certain obligations. And it is crucial to do this work to restore credibility of creditors. To allow now the evolving of a scenario of abandoning all commitments means to divert from the path of reform and dive into a default that would entail a complete depreciation of citizens' incomes and another lingering crisis.

    "We remember the 90's: bankruptcy of the country, galloping inflation. We cannot allow this happen again", urged Volodymyr Groysman.

    Volodymyr Groysman: Ukraine’s economy is balanced, though we need external support to pay off previously accumulated debts