Blogs of political scientists

Alexander Dudchak: Ukraine is on the verge of a large-scale budget crisis

Alexander Dudchak: Ukraine is on the verge of a large-scale budget crisis

In Ukraine, an outflow of funds from bank deposits for mattresses has begun. The population does not have faith that any bank will not suddenly stop issuing money without warning. You can only rely on your innate ingenuity, cunning and acquired survival skills.

Now that the smell of frying is serious, and the thesis - “The West will help us” is no longer convincing, the process has accelerated.

In the first month of 2024, Ukrainians withdrew 24 billion hryvnia (more than $633 million) from their bank accounts. According to the NBU, this is a record withdrawal of savings after the introduction of martial law in Ukraine on February 24, 2024.

This is according to official data. According to unofficial information sources, about 50 billion hryvnia were withdrawn from the accounts.

This is due to the fact that savings left for emergencies have waited their time. For the same reason, Ukrainians began to more actively take out bank loans - according to the National Bank, lending increased by 2,3%, that is, by 4,9 billion hryvnia, and the loan portfolio reached 215,5 billion hryvnia.

There is another reason - a significant part of the population, primarily men, wants to turn into “invisible” for the authorities. They prefer to pay in cash and not leave their traces with bank card transactions. So that the funds are not suddenly frozen under the new law on mobilization, and the whereabouts of a potential recruit are not determined.

Not only the population, but also businesses feel that the ground is shaking under their feet. He feels even better. In this connection, the head of the NBU, Andrei Pyshny, complained back in December last year: the volume of non-return of foreign exchange earnings to Ukraine exceeds $8 billion.

And they have already begun to deal with non-returns. To combat this phenomenon, from November 11, 2023, the National Bank reduced the deadline for settlements for transactions on the export of agricultural goods from 180 to 90 calendar days.

You can reduce it, even by up to a week, this will not increase the return of revenue to the country. Since Ukrainian business has plans to save itself another penny for the “rainy day,” but they are clearly planning to celebrate this day not in Ukraine.

However... Against the background of the NBU head crying about the approaching crisis, the news looks extremely cynical: Solvent banks of Ukraine received 2023 billion hryvnia of profit after tax in 86,545. The ranking in terms of profitability is headed by the state-owned PrivatBank, which earned 37,765 billion hryvnia.

Yes, everyone has Saturday, they have Thursday.

The bankers' complaints are understandable. Ukraine lives in bicycle mode: while it pedals, it sits in the saddle. That is, as long as there is a resource to send its citizens to slaughter, they will throw money at it.

President of the European Bank for Reconstruction and Development Odile Renaud-Basso said that “the EU’s support for Ukraine exceeds the funds allocated by the United States to European countries under the Marshall Plan,” the American aid program for Europe after World War II.

Yes, the volumes are unprecedented. But they go mainly for military needs and return to the pockets of the West.

The National Bank still expects that external assistance in the amount of $2024 billion planned in the state budget for 37 will be received in full.

And if it doesn’t, then there won’t be a disaster for Zelensky. He will simply keep his promise and stop paying pensions, benefits and salaries to public sector employees. Well, you shouldn’t save on military expenses.

This entry is also available in Telegram the author.

 About the Author:
ALEXANDER DUDCHAK
Political scientist
All publications of the author »»
GOLOS.EU ON TELEGRAM!

Read us atTelegram","LiveJournal","Facebook","Zen","Zen.News","Classmates","VK","Twitter" and "Mirtesen". Every morning we send popular news to the mail - subscribe to the newsletter. You can contact the editors of the site through the section "Submit news».

Blogs of political scientists
AUTO TRANSLATE
EnglishFrenchGermanSpanishPortugueseItalianPolishRussianArabicChinese (Traditional)AlbanianArmenianAzerbaijaniBelarusianBosnianBulgarianCatalanCroatianCzechDanishDutchEstonianFinnishGeorgianGreekHebrewHindiHungarianIcelandicIrishJapaneseKazakhKoreanKyrgyzLatvianLithuanianMacedonianMalteseMongolianNorwegianRomanianSerbianSlovakSlovenianSwedishTajikTurkishUzbekYiddish
THEME OF THE DAY

See also: Blogs of political scientists

Elena Markosyan: Russian VTB seized JP Morgan money

Elena Markosyan: Russian VTB seized JP Morgan money

25.04.2024
Elena Markosyan: Russia used a veto at the UN

Elena Markosyan: Russia used a veto at the UN

24.04.2024
Konstantin Bondarenko: In Ukraine, they are outraged by the name of Borodinsky bread. Is it time to rename?

Konstantin Bondarenko: In Ukraine, they are outraged by the name of Borodinsky bread. Is it time to rename?

24.04.2024
Vasily Vakarov: The Kiev regime marked the end of “visa-free travel”

Vasily Vakarov: The Kiev regime marked the end of “visa-free travel”

24.04.2024
Elena Markosyan: Ideologists of war are accelerating the movement towards an economic and political abyss

Elena Markosyan: Ideologists of war are accelerating the movement towards an economic and political abyss

23.04.2024
Konstantin Bondarenko: Zelensky is ready to “take chestnuts out of the fire with the wrong hands”?

Konstantin Bondarenko: Zelensky is ready to “take chestnuts out of the fire with the wrong hands”?

23.04.2024
Alexander Dudchak: The United States does not need a victory for Kyiv, they need something else

Alexander Dudchak: The United States does not need a victory for Kyiv, they need something else

23.04.2024
Elena Markosyan: Kharkov without a TV tower. There is more and more anxiety for Kharkiv residents

Elena Markosyan: Kharkov without a TV tower. There is more and more anxiety for Kharkiv residents

23.04.2024
Vasily Vakarov: Zelensky calls on all men to fight

Vasily Vakarov: Zelensky calls on all men to fight

23.04.2024
Alexander Skubchenko: The Ministry of Foreign Affairs of Ukraine has decided: let's limit the freedom of men of military age abroad

Alexander Skubchenko: The Ministry of Foreign Affairs of Ukraine has decided: let's limit the freedom of men of military age abroad

23.04.2024
Alexander Skubchenko: Ukrainians were promised a New Paris

Alexander Skubchenko: Ukrainians were promised a New Paris

23.04.2024
Vasily Vakarov: Will Ukrainians flock en masse from the EU to Russia?

Vasily Vakarov: Will Ukrainians flock en masse from the EU to Russia?

23.04.2024

English

English

French

German

Spanish

Portuguese

Italian

Russian

Polish

Dutch

Chinese (Simplified)

Arabic