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Why EU's "Marshall Plan" is not for Ukraine only

Author : Olexandr Honcharov

13:29, 10 November 2017
Why EU's "Marshall Plan" is not for Ukraine only

Author : Olexandr Honcharov

European politicians and officials are preparing "Eastern Partnership +" program for Ukraine, Georgia, and Moldova

13:29, 10 November 2017

Read the original text at 112.ua.

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November 6, "Marshall Plan" for Ukraine was presented for the ambassadors of the European Union, the United States, Canada and Japan in the Lithuanian Seim. This draft document is designed for 10 years and provides for 5 billion euros of annual investments in the national economy of Ukraine. To be frank, such a presentation from our Western partners has long been expected. However, recently they have voiced some doubts about the implementation of such a "Marshall Plan" in Ukraine and especially about the ability of Ukrainian top officials qualitatively use this money. That is, use them for projects for which they will be allocated, without stealing them.

Why did such fears increase? Because credit and investment resources are managed by impotent, highly corrupt and tightly mediocre state structures. Moreover, reforms in our country were miserably failed. Therefore, the process of decreasing the importance of Ukraine as a partner of the Western bloc began. And especially Europeans were not ready for such a high financial demands of Ukrainian top officials and politicians. European Union, obviously, has already understood that the amount of financial resources needed from the West to maintain the Ukrainian economy and social sector will be unbearable for Europe.

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Therefore, more and more often politicians in Brussels note: it would be wrong to offer a large investment aid plan to only one Ukraine, so European politicians and officials (unlike Lithuanian ones) are already planning to offer Ukraine, Georgia, and Moldova a new program of cooperation "Eastern Partnership +". And apparently, we need to be ready by the end of this year to a sharp deterioration of the situation in the financial market and in the real sector of the economy.

Remember, back in 2014, the Cabinet loudly presented the Country Development Strategy until 2020, which was to become a road map for economic reforms. At the same time, it was announced about a grandiose plan of attraction for the period 2015-2020 in the Ukrainian economy to 40 billion dollars of foreign direct investment. But in fact today these statements become an empty sound.

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But our ministers and people's deputies completely exclude any criticism, and all their macroeconomic fantasies are in flying colors. The plans of our representatives of the financial and economic block of government do not come true. Recently, First Deputy Prime Minister Stepan Kubiv introduced an another adjustment. So, the Cabinet of Ministers once again worsened its own forecast of GDP growth in Ukraine in the current (2017) to 1.8% (previously it was predicted 3%), and the forecasted rate of inflation - to 12.9% from 8.1%.

At the same time, in calculating the financial and economic indicators of the state budget (2018), the Ministry of Finance of Ukraine provides for the country's GDP growth at the level of 3%. Cabinet of Ministers Groнsman has optimistic predictions for subsequent years: in 2019 - 3.6%, in 2020 - 4%. And the head of the government continues to assert: financial resources are accumulating, including through the effective fight against corruption.. It turns out that the economy is working successfully. But when you take your eyes off the TV screen and go out into the street, especially to the store or to the market, you clearly understand that you are captured in some system of crooked mirrors.

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I think that our foreign partners have the same feelings. Plus, the indignation of Western creditors is also due to the fact that they receive from Ukraine negative news related to the lack of reforms and the fight against bribes and shadow schemes. And working for many years with foreign investors, I know the logic of their hard reaction. After all, if they begin to easily forgive us our debts, we will thereby empower our top officials and politicians to further steal their billion-dollar loans. Unlike our ordinary taxpayers.

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