The minister considers default a political decision, therefore, there are no economic grounds for default in Ukraine
Finance Minister Sergei Marshenko explained why there are no conditions for defaults or restructuring public debt in Ukraine and emphasized that the budget situation is manageable.
“I would ask that no one use the word” default “. In addition, we issued special recommendations where we indicated that” default, reorganization, re-profit … “are all destructive words … virtually. “The default is a political decision, so there are no economic reasons for Ukraine’s default,” Marchenko said.
The minister also said that this time Ukraine is entering an economic crisis “in a fairly strong macroeconomic situation, quite stable”. “The budget situation is not simple, but we control it and it is manageable. There is no basis for any apprehension, risk and concerns, ”the minister said.
It is worth noting that the term “default” began to sound very frequent in media and social networks. According to the second quarter results, Ukraine’s economy is expected to decline by more than 10% – and this is in the year that accounts for peak payments on government debt.
The reference PAYSPACE magazine
Recall that Sergei Marchenko led the department in one of the most difficult times in the Ukrainian economy. Since 2002, Marchenko worked in public service in tax authorities and in the Ministry of Finance. Since 2011, Marchenko worked at the coordination center for the implementation of reforms under the President of Ukraine.
In 2016, he became Deputy Minister of Finance Alexander Daniluk. And in 2018, he moved to the post of Deputy Chief of the Presidential Administration Petro Poroshenko, from where he resigned in 2019.
Read: In case of failure – Default: Zelensky explained what laws Ukraine needs to adopt.
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