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Neoliberal Reforms Passed in Ukraine

teleSUR | December 22, 2014

Ukrainian Prime Minister Arseniy Yatsenyuk justified his country’s recently passed neoliberal reforms Monday, referring to them as essential for Ukraine’s incorporation into the European Union.

In an interview with German media outlet Der Spiegel, Yatsenyuk assured that the measures taken represent “the greatest triumph in this process as Ukrainian youth want to go to Europe.”

Regarding international support, the Ukrainian official indicated that assistance from the United States and the EU has been invaluable since the coup on Feb. 22 that ousted former President Viktor Yanukovich.

“The West does what it can in this situation, because the operational space is limited in relation to Putin,” said Yatseniuk.

The reforms include cost increases in public services, the dismissal of additional public officials, the elimination of free medicine, and the sale of certain state enterprises.

Minister of Economic Development Aivaras Abramovicius said that Ukraine “is bankrupt.”

Ukrainian official statistics show an increase of 20 percent in prices since 2014, while industrial production has decreased by nine percentage points, reports Slavic media outlet Segodnia.

Another economic indicator that is rapidly growing is Ukraine’s external debt, which is expected to rise this year above 41 percent, according to the International Monetary Fund. The debt currently stands at $US42 billion. Foreign investment has also decreased from 15.7 percent to 8.2 percent.

Last week, the United States signed new sanctions against Russia under the Ukraine Freedom Support Act of 2014. The latest sanctions target Russia’s defense industry and allows the United States to provide military aid to Ukraine.

December 22, 2014 - Posted by | Economics | , ,

1 Comment »

  1. Using “neoliberal” reforms isn’t a valid excuse for grabbing a ticket to EU membership.

    Like

    Comment by arabpikachu4wp | December 23, 2014 | Reply


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