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In Ukraine shallow reserves to a critical level

In Ukraine shallow reserves to a critical level. This opinion was expressed economist Vladislav Starinetz.

“Certainly, the volume of gold reserves at least $ 10 billion. – It is critical for Ukraine. He does not even cover two months of imports “, – said Starinetz.

According to him, the diminishing reserves brought big government spending, including the purchase of gas.

“Now I say sarcastically: winter this year suddenly cold. In this regard allocated money on gas. Purchases will need to continue in the future. We are in critical condition. The economy is hanging by a thread. The only way – is to say Ukrainian truth about what is happening. And then, unfortunately, to make unpopular measures “, – says economist.

Starinetz convinced that if he refused to reduce costs by at least 30% of Ukraine expects drop in life 2-3 times by default.

“If Ukraine will enter the market, it will borrow at 17% per annum. But no one wants to take on a load of bad news and to tell the truth. All ads are trying to get away from reducing government spending. And we go to stagflation, ie unemployment, uncontrolled growth of the dollar. The question of urgent surgical intervention. Otherwise we get to the stage of irreversible processes when investors refuse to Ukraine for good and put us on the cross. We will lose markets that are not able to return. A credit we can take only a year or two,”- he said.

Recall, the NBU reported: as December 1, 2014 reserves amounted to 9.966 billion dollars. And this at 20.82% (by 2.621 billion dollars.) Than on the 1st of November. Thus, foreign exchange reserves have reached 10-year low. Overall, since the beginning of the year they fell to 10.450 billion. (At 51.19%).

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