UDAR says secessionists’ actions destabilize economy, drop hryvnya rate

09.04.2014 10:40

Actions of secessionists in eastern Ukraine lead to swinging of the economic situation in the country and drop the exchange rate of hryvnya. That is why the exchange rate has fallen to its lowest in the history of Ukrainian currency, UDAR party says.

The party emphasizes that the destabilization of the economic situation by separatist strikes in the first place, on ordinary citizens, since it leads to the devaluation of salaries and pensions, and decline in purchasing power of citizens.

"In case unrest continues, people will lose jobs as investors will withdraw funds from the troubled regions and curtail the activities of their companies. Crimea has already set the example that banks and shops close, enterprises halt operations, people are losing their jobs en masse," the party statement runs.

UDAR warns that budget revenue will fall. This will negatively affect the state's ability to perform its social obligations timely and in full. "Treasury revenue reduction will mean that the state fails to regularly pay public sector salaries and social assistance to the least protected citizens. Also, the state will be unable to transfer grants to the Pension Fund, so that pensioners can get their money in time. Due to secessionists, millions of people in the eastern regions do risk to lose stable jobs," the statement says.

UDAR highlights, that eastern regions will suffer in the first place. Contrary to the widespread assumption that Donbas feeds all the Ukraine, these are deeply subsidized regions. The party reminds that Ukraine's state budget annually allocates 13 billion UAH only for coal industry.

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