yatsenyuk gives presentation on state of ukrainian economy: one step before default
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Ukrainian Interim Premier Minister Arseniy Yatesyuk gives presentation on state of Ukrainian economyTRANSCRIPT
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One Step Before DefaultThe Real State of Ukrainian
Economy
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The Problems of Ukrainian State Budget in 2014Fiscal cliff
289,8 billion hryvna are lacking for the country survival in 2014
Extra money to sustain state debt (because of hryvna devaluation to 10,5 hrn for one US
dollar)“Naftogaz” deficit (if Russia increase
gas prices up to 487 dollars per 1000
cubic meters)
Non-reimbursed VAT
Taxes paid in advance
Taken from the state Treasury account to cover the deficit in Pension Fund and lending for local budgets
Overestimated profitable part of the budget
Budget deficit, planned by Yanukovych government
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Deceleration of GDP increase during 2010-2013
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Ukrainian Industrial Production Indexes
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Taxes overpayment, billion hryvna
other
VAT
Corporate tax
GDP real, %
* During the world financial and economical crisis of 2008-2009 the amounts of tax overpayment increased** Starting from 2013, according to Ukrainian Revenue Act, advanced tax payment was introduced for businesses, leading to increase in overpaid taxes
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Increase of the State Debts and the Debts Guaranteed by the State
in Ukraine
debts guaranteed by the statestate debtsstate and guaranteed by the state debts
state and guaranteed by the state debts to GDP
percentageBillion hrn.
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Debts of the State Industries
“Naftogaz Ukrainy”85 billion
hrn
“Ukravtodor”
37 billion hrn
“Ukrzaliznycya”
24 billion hrn
Audits are currently carried out on hundreds of others state industrial institutions
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International Reserves Dynamics in 2005-2014
Significant decrease of the international reserves since 2011,more than twice
Billions US dollars