Watermelon criticized the budget resolution of the Cabinet

Арбузов раскритиковал бюджетную резолюцию Кабмина

Serhiy Arbuzov

The Groisman overstated GDP growth, says the former head of the national Bank.

Most figures in the Cabinet’s budget resolution until 2020 are unrealistic. So says the former head of the national Bank, the former first Deputy Prime Minister Sergei Arbuzov. According to him, the document inflated GDP growth, and the cost is designed for a working economy with a significant domestic investment.

“In 2017-19 years have to repay or restructure the $13 billion or about 12% of GDP this year. Forecasts for iron ore and metals are not encouraging. Only the grains will not pull the economy without domestic consumption. A powerful debt load can not be expected to moderate the credit ratings, and hence private investment. In short, the growth factors are not observed, and so the majority of figures in the document, directly related to GDP, unreal,” – says Serhiy Arbuzov.

He also doubts the reality to reach the planned figures, the budget deficit.

“The government is confident in the Holy land and the adoption of the pension reform in Parliament. It is clear that without them the IMF will curtail funding and Ukraine will default. But will this massive “plunder” parliamentarians, the big question,” wrote Watermelons.

It should be noted at the Cabinet meeting on 31 may adopted a resolution on the deterioration in GDP from 3 to 1.8%.