The Inevitable Financial and Economic Collapse
The financial and banking sector cannot function properly if the economy is in crisis, the budget is empty and gold and foreign currency reserves dwindle. Moreover, the efforts of the National Bank of Ukraine to stabilize the economy
inspire little if any optimism among experts
. The external funding of 35 billion dollars requested by Kiev could have helped to stabilize the public finances. It would not have averted economic collapse, but could help the government soften ...
[xvi] Ironically, Ukraine has been asked to pay higher prices than their European counterparts. http://www.bloomberg.com/news/2014-04-03/russia-to-charge-ukraine-more-than-germany-as-gas-discounts-end.html
... forecasts downward. In January 2014, it predicted that GDP would fall by 2 per cent; in April, it changed that prognosis to 3 per cent, and now it stands at 5 per cent. The hryvnia has lost 30 per cent of its value since the beginning of the year.
Ukraine's economy: income and spending
Industry is suffering heavily. According to the State Statistics Service of Ukraine, in April 2014, industrial output in the country was 6 per cent down year on year. The biggest slump was in the chemical sector (down 11.2 ...
... is the global, latent change in zones of economic influence. The world has reached its historic peak in terms of the market economy’s territorial distribution, but development models are becoming increasingly polar. Therefore, the need to build ... ... anticipated since the end of the Cold War, has become increasingly dependent on market factors and transnational competition.
Ukraine found itself in the thick of the geo-economic confrontation between the two trade areas, closing in on it from either ...