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Tymoshenko: Ukraine’s 2016 budget to kill country’s economy

December 16, 2015, 21:56 UTC+3 KIEV

The leader of Ukraine’s Batkivshchina party calls it the worst budget in the history of independent Ukraine and says her party would vote for it under no circumstances

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Yulia Tymoshenko

Yulia Tymoshenko

© Maxim Nikitin/TASS

KIEV, December 16 /TASS/. A government-proposed 2016 draft budget will be ruinous for Ukraine and will finish off its economy, according to Yulia Tymoshenko, the leader of Ukraine’s Batkivshchina (Fatherland) party in Verkhovna Rada (parliament).

"The 2016 draft budget will ruin the Ukrainian economy completely destroying every branch and sector," Tymoshenko told a conference in Kiev on Wednesday.

Tymoshenko said that Ukraine had never had such humiliating, unprofessional and imbalanced budget. "It is the worst budget in the history of independent Ukraine," she stressed.

Tymoshenko described the 2016 draft as a "farewell" budget meaning the country would either part with the government of Prime Minister Arseniy Yatsenyuk or would give up any hopes for economic growth.

She said that under no circumstances Batkivshchina would vote for the proposed draft budget.

The 2016 draft budget and Ukraine’s Tax Code have already been submitted to Ukrainian parliament. Ukraine’s first persons and international creditors demand that the deputies adopt the draft budget as soon as possible. According to the deputies, the 2016 draft budget consolidates the state of poverty and extreme poverty for the majority of Ukrainians. For example, the budget provides for a 12% (172 hryvnias or about 7.5 dollars according to the current exchange rate) minimal subsistence level growth from 1,330 hryvnias to 1,496 hryvnias (about 57.6 -64.8 U.S. dollars). However, Viktor Medvedchuk, the leader of the Ukrainsky Vybor (Ukrainian Choice) public movement, predicts a 20%-30% inflation rate.

"It means the Ukrainians are being threatened with not just poverty but absolute poverty, and the 2016 draft budget is going to codify this status," the Ukrainian politician said.

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