Under current administration, Ukraine’s manufacturing industry decline rate soared by 6.4 times, and the problem can no longer be solved through creation of nominal agencies. This was stated by OPPOSITION PLATFORM – FOR LIFE MP Serhiy Lovochkin in a commentary on Ukraine’s industrial crisis of 2019.

“Ukraine’s manufacturing industry has turned from economic powerhouse into its most crisis-stricken sector. Over the year 2019, the industrial manufacturing declined by almost 2 percent and now reaches sole 80 percent of its 2013 level. The new administration has not yet delivered on hopes for improvements in the sector. Quite opposite: the decline rate has increased by 6.4 times over its tenure. Therefore, the proposal from the Ministry of Economy on creation of a ‘rescue headquarters’ for the manufacturing industry is a mere formality. Ukraine needs an up and running state program on manufacturing sector support,” Lovochkin said.

The politician quoted the industries that plunged the deepest in 2019: electric equipment production (–19.9 percent), consumer goods manufacturing (–9.9 percent), car industry (–9.7 percent).

“Metallurgic engineering has reached its historic low in 2019 since Ukraine’s independence, having produced 20.84 million tons, which is by 3.1 percent less than in 2018. Industries like confectionary business and men’s shoes production have dropped as well. It’s no longer a comprehensive crisis, it’s more of deindustrialization underway,” Lovochkin said.

The MP believes that revival of manufacturing sector must be among top priorities for the government, along with peace restoration.

“OPPOSITION PLATFORM – FOR LIFE has proposed a set of draft bills to the parliament aimed at rehabilitation of the manufacturing industry and creation of new jobs,” Lovochkin said.