Financial analyst Oleksiy Kushch criticized Ukrainian economic policy for its failure to effectively use financial assistance from Western partners during the last two years of full-scale war. In his opinion, instead of reformatting the economy in accordance with the requirements of the war, the National Bank remained within the old financial schemes, which led to an unprecedentedly high level of unemployment.
Kushch argues that Ukraine was given a unique opportunity to restore its economy thanks to Western financial assistance, but this opportunity was not used. “We could have reshaped the economy with this support, but unfortunately, this did not happen,” he emphasizes. As the main reason, he points to the inefficiency of the leadership of the National Bank, in particular Andriy Pyshny, who, according to Kushch, “is comfortable in a warm bath.”.
The economist believes that ignoring opportunities for economic recovery has led to a catastrophic unemployment rate of about 15%. “This is an unacceptable unemployment rate for a country at war,” he notes. Kushch compares the situation in Ukraine with countries that effectively implemented economic models during wartime, where the unemployment rate has always been minimal.
Oleksiy Kushch believes that in order to restore the economy, Ukraine needed to launch a regenerative circulation model and use financial flows for the real sector of the economy. Instead, according to the analyst, these flows were directed to financial speculation. He also criticizes the lack of managerial synergy in the public sector, noting that appointments to key positions based on personal loyalty, rather than professional qualities, negatively affects the effectiveness of economic policy.
Kushch emphasizes that proper economic policy management could ensure economic growth of 10% per year and an unemployment rate of 2-3%. However, the situation remains difficult at the moment, and the need for changes in economic policy remains urgent.
