Hetmantsev: Ukraine is “one step from the abyss” — budget problems are inevitable even with full partner funding

The head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Daniil Hetmantsev, has warned of a slowdown in the Ukrainian economy and an alarming situation with public finances.

According to him, budget problems will arise even if international partners fulfill their obligations one hundred percent.

The MP published his statement on his Telegram channel. He listed the factors that led to the current situation: underperformance of the budget on the revenue side, a number of “ill-conceived decisions in the defense sector,” and an objective slowdown in economic development.

“Underperformance of the budget on the revenue side, some, to put it mildly, ill-conceived decisions in the defense sector — and not only there — and an objective slowdown in economic development have led to a situation where problems will arise even with 100 percent fulfillment of all our obligations and receipt of all confirmed funds,” Hetmantsev wrote.

The deputy described the financial situation as “difficult” and “alarming.” In this regard, he called on the Verkhovna Rada to vote during the current plenary week to fulfill obligations to the IMF and the EU, urging his colleagues to “forget about politics when one step from the abyss.”

Hetmantsev specifically warned of the consequences of a possible breakdown of international agreements.

“Failure to fulfill any international obligation from the memorandum with the IMF or the EU will significantly worsen the problem. And no, ‘it’ll work out somehow, because it’s never not worked out’ — this time that won’t fly,” the deputy wrote.

The outlet previously reported in detail on what measures the IMF is demanding from Kyiv. A separate article also covered how Russia’s blockade of Ukrainian seaports is affecting Ukrainian businesses.