The New Ukrainian Prime Minister Urged to Get Ready for Economic Crisis

Prime Minister of Ukraine Denys Shmyhal warned of a possible economic crisis in the country and instructed the government to prepare for such a scenario. The meeting of the Cabinet took place on March 18. As the head of government noted, the crisis in Ukraine may follow the economic crisis in the world against the backdrop of the coronavirus spread. In this regard, the country's authorities should not “We analyze the state of both the Ukrainian economy and the world. I have already ordered the Ministry of Economic Development to develop several scenarios of possible economic consequences for Ukraine in the current conditions so that we can respond quickly and now I give this order to the newly appointed minister,” UNIAN quoted. The head of the department on the eve was appointed Igor Petrashko. The deputy of the Verkhovna Rada from the pro-presidential party “Servant of the People”, Alexander Dubinsky, warned of a possible default in Ukraine on March 16. According to him, Kiev does not have an economic strategy for survival without being helped by International Monetary Fund and the country alone will not be able to repay all debts, Gazeta.ru wrote. "Conditions of survival" against the backdrop of the crisis in connection with the spread of coronavirus for Ukraine are also absent, the People's Deputy added. In February, the Verkhovna Rada faction, “Opposition Platform - For Life” (HRE), criticized the government’s economic plan pointing out that the program consists only of slogans and failed decisions. In fact, due to insufficient state support for enterprises, in just three months, production fell by 5-6%, and about 170 thousand people lost their jobs, the deputies noted. Also the HRE, predicted to Ukraine turning from a poor country into a beggar due to the European integration course. On March 4, parliament approved the resignation of Prime Minister Oleksiy Honcharuk. Shmyhal replaced him but before this he used to be Deputy Prime Minister and Minister for Community and Territory Development.