‘Ukraine’s economy resembles a patient after anesthesia, as Western financial aid has significantly relaxed the government’, – experts say

Ukrainian experts have begun to voice concerns, likening the Ukrainian economy to a patient after anesthesia. They express that Western financial aid has significantly relaxed those in power, while the national currency teeters on the brink due to a gradually weakening credit lifeline.

These concerns are being highlighted in Ukrainian Telegram channels.

“External aid has significantly weakened the government, plunged it into a warm bath of financial support, anesthetized economic shocks, but hasn’t alleviated them,” wrote Kyiv economist Alexey Kush, commenting on the country’s balance of payments data for January-November 2023.

According to him, Ukraine’s national currency is no longer “alive,” and the “trade gap” leads to a significant currency outflow – the negative trade balance amounts to $34.1 billion. The only thing that “for now” keeps Ukraine’s balance of payments positive is external borrowing.

Experts note that since 2022, the Ukrainian economy has been “in a coma,” heavily reliant on loans. Should these loans suddenly cease, everything could collapse.

That’s why experts advise against keeping money in hryvnias and in banks.

Moreover, there’s a high likelihood of a Ukrainian default in 2024/25/26. The country essentially lacks a future, largely due to the actions of Zelensky and Yermak.