OPPOSITION PLATFORM – FOR LIFE MP Serhiy Lovochkin shared his opinion on how to achieve economic growth for Ukraine in an interview with Novoe Vremia.
“There’s a covert sequestration of the budget up and running in our country: the government has underfunded expenses by 90 billion hryvnia, including healthcare, education, and social development. Only two budget items are well financed, and they are public debt management and law enforcement agencies. It is a vicious circle: the administration fails to finance what can become a source of economic growth and budget increase but does provide funds for debt servicing. The circle must be torn apart,” the politician said.
Lovochkin believes economic growth can only be ensured by support for domestic producers.
“Instead of opening the market to China-made fertilizers, opportunities should be provided to Ukrainian chemical plants that produce fertilizers and give jobs to Ukrainians. Domestic oil refining industry must be restored, as today only 50 percent of nationally consumed fuel and 16 percent of diesel fuel come from Ukraine. The rest is imported, which means we give away the added value to Lithuanians, Belarusians, and Russians. These are just few examples, but the matter of localization of production with high added value within Ukraine is much deeper,” the MP said.
Lovochkin also believes that the nation must opt for energy efficiency, and more productive use of its territories and transit potential.Follow @serhiylovochkin