The current crisis in the industrial sector of Ukrainian economy is not caused by objective reasons but results from unprofessional management. This was stated by MP Serhiy Lovochkin commenting of the most recent data by the State Statistics Service.

“This year, the industrial sector would not even get close to the figures it used to show before the epidemic. In half of the regions, the manufacturing industry continues sliding in 2021 with no objective reasons for it,” the politician said.

The MP cited pharmacy sector as an example: it dropped by 3.4 percent since early 2021.

“I doubt that Ukrainians started taking less medicine in 2021 compared to 2020. The decrease is not caused by lower demand but by unprofessional management of the manufacturing industry by the national government which leads to imported goods replacing domestic ones,” he said.

The situation is the gravest in the oil and gas sector, according to Lovochkin.

“Current deficit of energy resources that made European spot prices soar is the best time for investing into oil and gas extraction and earning a profit on it. However, Ukraine’s oil and gas sectors continue sliding even amid the deficit of the energy resources; it dropped by 2.9 percent in the past ten months,” he said.

“The figures show that the domestic production industry has the reserves for growth without significant investments; all that’s needed is professional management. As of today, it’s one of the major problems because oil, gas, and pharmaceutical industries are key ones,” Lovochkin said.