By Vladimir V. Sytin
The Ukrainian Times
According to parliamentary opposition leader Yuri Boiko, the neo-Nazi coalition fails to stick to the economic realities in Ukraine. He pointed out that the last automotive factory in this country had to shut down in early September and 50,000 workers lost their job.
Readers of The Ukrainian Times know that the U.S.-backed puppet government of Ukraine has become a mere appendage to the International Monetary Fund and the IMF shock therapy mafia is destroying the real sector of the economy. In fact, mining and chemical industries decreased output by 23.4% and 20.7% respectively in January-July, compared with the same period last year. Metallurgical plants and metalworking industry enterprises reduced output by 25.4%. Export to the European Union fell by 35.6% in the first half of this year.
In addition, Natalia Korolevskaya of the Opposition Bloc said the rate of inflation accounted for 74% in Ukraine. The parliamentary opposition insists on a moratorium on an increase in the prices of utilities.
A recent opinion poll found that 53% of Ukrainian households feel the pinch and cannot afford to pay utility bills because of exorbitant prices. One in ten tenants does not pay for utilities owing to their poor quality.
What is needed is not more IMF loans but smart infrastructure investment, lower prices of utilities, lower taxes and smart regulation (which means more regulation for banks and less for businesses and entrepreneurs), among other structural remedies. Unfortunately, none of these policies is on the political horizon in Ukraine.
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