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World crisis just around the corner: Is Ukraine ready?

Author : Olexandr Honcharov

In this regard, it is difficult to imagine what the Ukrainian markets would face next year
10:49, 29 November 2019

Open source

The Wall Street Journal, an American business newspaper, disclosed insider information that the world's largest hedge fund, Bridgewater Associates, was betting $ 1.5 billion on the fall of global stock markets by March next 2020. The forecast is that the decrease would be less than in six months.

And this rate for the named hedge fund will pay off with interest if the S&P 500 and Euro Stoxx 50 indices fall by the beginning of next spring (or both fall). And this is the most significant forecast for a decline in world markets. But what are the first numbers!

Dashing trouble began. In this regard, it is difficult to imagine what the Ukrainian markets would face next year. The revenues of our state budget 2020 would be 45 billion USD, of which debts servicing and paying off –amount to 17 billion USD.

At one time, U.S. President Franklin Roosevelt gathered American oligarchs in the White House and did not let them out until they signed the Free Competition Act (from unfair competition and the domination of monopolies).

Related: EU countries and European Parliament agree on 2020 budget

So, at a meeting on November 20, the Cabinet of Ministers of Oleksiy Honcharuk introduced changes to the List of state property objects of strategic importance for the economy and state security. By a resolution of the Cabinet of Ministers, 39 more objects were excluded from the existing List (4 objects of the Ministry of Economic Development, 4 objects, on the basis of which JSC Ukrzaliznytsia Ukrainian Railways was formed, 31 objects of the State Committee for Television and Radio Broadcasting, reorganized by joining the National Public Television and Radio Company of Ukraine PJSC).

Well, and now the Ministry of Economy breathed a sigh of relief after a brilliantly executed the order and joyfully noted that today the legislation of Ukraine no longer provides for a ban on the privatization of enterprises included in the List of state-owned objects of strategic importance for the economy and security of the state.

Related: Saving vs. earning: Ukrainian Cabinet wants to get more funds for 2020 state budget

Frankly speaking, I was surprised when I found out that the Cabinet of Ministers had thrown out another 39 strategic enterprises for sale. These officials are selling our last "family silver." And we, Ukrainian voters, continue to patiently wait for new answers from the new government for honest answers to many questions. For example, how many billions have our patriotic political leaders funneled to offshore?

Why are raiders still squeezing enterprises and agricultural companies from industrialists and farmers? Why commercial bank is declared insolvent, and depositors lose their savings? And finally, how does all this affect salaries, pensions of ordinary Ukrainians and housing and communal services tariffs? There are many, many questions.

Related: $400 million included in budget for procurement of medications, - Healthcare Minister

And then after all, Ukrainian society would be responsible for the results. Although the situation is the same: no one from the Cabinet or from the Verkhovna Rada knows what would have to be done in the face of the impending global financial crisis.

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