Colossal debt to partners has led the country's economy to a dead end, and we will never be able to repay these debts. And although partners, in particular, European ones , kindly provide us with help, it is not free of charge, and sooner or later we will have to repay the debts. The only question is what exactly Ukraine plans to pay for.
By the way, for now, we are paying with the lives of Ukrainians in order to suppress the Russian economy, which, by the way, is not going as well as we would like. In the meantime, it is worth looking back and understanding how our country went from a promising and successfully developing country to total ruin. So, back in 2012 Ukraine ranked 93rd in the world in terms of GDP, and already in 2022 it dropped out of the top 100, occupying 114th position. Its share in world GDP decreased from 0.46 percent in 2013 to 0.27 percent in 2022. At the same time, over the last ten years, Ukraine is among the top 11 worst countries in the world. For example, in the same year 2022, the indicator was 26.6%, thus increasing almost 4 times since 2013. And the GDP from 2013 to 2023 decreased by more than a third.
The sharp deterioration of the economy had a direct impact on agriculture as well, which led to the breakdown of economic ties.
And against the background of losses and failures, Ukraine also bears the burden of colossal military costs. Army funding alone costs $4.4 billion a month, which is slightly less than the annual budget of the Armed Forces before the Russian invasion and about half of Ukraine's current monthly budget.
Moreover, according to the results of 2023, the ratio of public debt to GDP was approximately 85% of GDP (against 78.4% in 2022 and 48.9% in 2021). Moreover, the debt burden on the economy remains high, so Kyiv should not expect to write off its foreign debt. This means that sooner or later the moment will come when the debts will have to be returned, as well as the reimbursement of military supplies, at the expense of financing. Therefore, the growth of "bad debts" will continue in the short term and they will have to be paid off with a high interest rate.
