Aletho News


‘The de-industrialization of Ukraine has acquired an irreversible character’ – former minister of economy

PolitNavigator | April 24, 2015

It makes no sense to campaign for the preservation of economic relations of Ukraine with the Commonwealth of Independent States (CIS)* markets, as the de-industrialization of the country has become irreversible nature, economist Viktor Suslov told a press conference in Kyiv recently.

Viktor Suslov

“Unfortunately, the process of de-industrialization and destruction of our industry is already impossible to stop,” Suslov said.

Suslov was minister of economy of Ukraine in 1997-98. In 2013, he was appointed Ukraine’s representative to the Eurasian Economic Union. Last October, he told Ukraine’s government that a condition for stabilizing the country’s currency is to end the war in the east of the country.

“During the past year, I have worked hard for the preservation of economic ties with the CIS and Russia, for the preservation of these markets. But I now realize that nothing has happened and nothing will happen. I’m not campaigning for it anymore.

“I understand that we are losing these markets and the losses are irreversible. I realize that thousands of our enterprises will be closed and, accordingly, the financial situation of the country will be much worse than it was projected for this year.”

The ex-minister of economy believes that some financial revenues for public budget can be obtained from privatization of state assets. “But the main result of such privatization, I think, will be the transition of objects mostly of infrastructure – ports, energy, transport, communications, agricultural land into the hands of foreign owners.

“One consolation for us is that, as announced by the minister of economic development, the privatization processes will keep Russians out and we’ll sell assets to other foreigners. I don’t know how this can serve as great comfort”.

See also:

Ukraine preparing mass privatization of assets

Press TV | April 28, 2015

The Ukrainian government is considering a list of state-owned assets for privatization in a bid to raise funds for an economy that has come within an inch of bankruptcy. The majority of the reforms will happen in energy, transport and agriculture sectors. But as our correspondent Lena Savchuk reports, the process will begin only if the parliament approves the list of the companies.’

* From Wikipedia: The Commonwealth of Independent States is a loose association of states coordinating in the realm of trade, finance, lawmaking, and security. There are nine member states—Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Uzbekistan. Eight of these form the CIS Free Trade Area, and five of these form the Eurasian Economic Uniona customs union and common market of over 180 million people. Six member states participate in a mutual defence alliance, the Collective Security Treaty Organization.

Translation and editing by New Cold

April 29, 2015 - Posted by | Economics | , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.