3 November, 2024
Mykhailo Nepran, the First Vice President of the Ukrainian Chamber of Commerce and Industry, believes that the Ukrainian economy would not have been able to survive without the support of Western partners
He shared his thoughts on Espreso TV.
“It’s a miracle we’ve managed to hold on for three years. Without external assistance, we would have collapsed long ago. We would have had nothing to fight with and no funds to pay pensions or salaries to state employees. Thanks to our allies, we’re maintaining a relatively stable economic situation. When people ask me about the economic situation, I tell them that for a country at war for three years, our economic situation is excellent. We have low inflation. While we’d like things to be better, we have to be realistic – it’s just not possible right now. Salaries and pensions are paid regularly, and social security is functioning without issues,” he said.
Nepran also drew a comparison to the economic situation in the United States in 1941.
“Back then, the U.S. was hundreds of times stronger economically than we are now. After Pearl Harbor on December 7, they had to introduce a rationing system for basic food items, gasoline, and household goods within two weeks. We haven’t faced anything like that, so we’re still holding on,” he added.
- Illia Neskhodovskyi, head of the ANTS network’s analytical department, says that Ukraine’s inflation is expected to reach 10% by the end of the year.
I can attest to what this article is claiming. At least outwardly, the economy in Ukraine is going strong. When I was there a few weeks ago, I observed the situation closely, and this in several cities.
I am very glad about this. A healthy economy is always vital, especially in war. Mafia land is not so lucky!
Many European banks have studied How Ukraine has handled the war and they remain amazed of the system. Same goes for the Ukrainian MASH units in the army and how they have handled emergency procedures and even some surgeries by flashlight and without power in general. Ditto the bomb shelter and alert systems, Internet connections, spreading out the electric system and even the effectiveness of using drones in the armed forces.
And let’s not forget the Ukrainian Diia app, which has just won a top award.
When I was in Kyiv, we never had even a single power outage, which amazed me, seeing that mafia attacks occur daily.
Ukrainian SME’s are driving the economy forward; against incredible odds. Many SME owners are themselves fighting or have key staff members fighting. Yet they keep going.
I am in fairly regular contact with several of them via LI.
As for the bigger companies, many are still able to export their products successfully.
I don’t understand though, why Roshen products are not available in North America and the EU countries? Of course Poro had his assets thieved in ruZZia and lost that market, but no one stepped up to help.
Ukrainian vodka, wine, beer, cheese, sweets, salted meats etc, all sell in large quantities in Georgia. I’m worried that the puppet regime there might stop that.
In the UK, our supermarkets are well stocked with wine from Romania and Bulgaria, yet Ukrainian wine, which is superior, is not available.
“I don’t understand though, why Roshen products are not available in North America and the EU countries?”
As for Europe, I think a lot has to do with import restrictions and/or difficult hurdles. Maybe it’s also plain old corruption, in which certain Western companies purchase politicians to protect their markets.