20:52 GMT +3 hours25 July 2016
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An elderly woman asks for alms outside the Saint Michael Golden-Domed Monastery in Kiev

Maidan's Tragic Aftermath: Ukraine Slides Into 'Staggering' Poverty

© AFP 2016/ SERGEI SUPINSKY
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Two years after the US-backed Maidan revolution, Ukraine is worse off than it was before – the country is sliding into poverty, Germany's daily newspaper Junge Welt reported, describing the life of ordinary Ukrainians as "staggering."

"Since the end of the Yanukovych era, the average income has decreased by 50 percent," the media outlet noted.

In addition, consumers in Ukraine have lost half of their purchasing power. Inflation reached 25 percent in 2014 and spiked to 44 percent last year, according to the data released by Ukraine's Central Bank in late December.

Last October, the World Bank updated its forecast for Ukraine, saying that the country's GDP was expected to contract by 12 percent in 2015, instead of a projected 7.5 percent decline.

The average pension in Ukraine is 80 euros, Junge Welt noted. Those pensioners, who continued to work, received 15 percent less last year. It is not surprising then that in these conditions "more and more" Ukrainians rely on food grown in dacha gardens, which belong to them or their relatives.

Ukraine's dire economic state has had a negative impact on the president's popularity. Earlier this month, Ukrainian TV Channel Novin 24 reported that approximately 17 percent of respondents supported Petro Poroshenko. This makes the current Ukrainian president less popular than his predecessor Viktor Yanukovych was shortly before the February 2014 coup.

Ukraine could well face complete economic failure. Its economy has been plagued by corruption, inefficient reforms and civil war. Billions of dollars in foreign financial assistance have also been unable to help it recover.

Ukrainian leadership blames the country's poor economic state primarily on the ongoing civil war, but Western investors, according to the newspaper, see these claims as an excuse. "What matters is that Kiev authorities have done little or nothing to prevent corruption and insider trading," Junge Welt noted.

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Ukrainian economy, economic crisis, poverty, inflation, Petro Poroshenko, Ukraine
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  • I do not understand why people give the thumbs up to this of the population of Ukraine on the brink of total depression, even more if from Russia??? The people of Ukraine cannot be blamed for a corrupt treasonous Poroshenko regime. Even worse that Merkals E.U. keeps pulling the strings to keeping a dead body alive. It makes no sense the Ukrainian population should starve when the political pigs have there snouts stuck in then trough!!! It is now widely known what the outcome of the Maiden events were. It just turned into ANOTHER case of MANIPULATED F**KED UP politicians doing what they want, with NO CONSEQUENCES thanks to the F**KING SEPTIC DOGS IN WASHINGTON!!!
  • Kiev thought they could quickly crush the restive east, in a week, a month, a few more months now two years. During this time the Oligarchs forged private armies and fortified their positions. Now they are a permanent part of the Ukrainian political landscape. Now Kiev cannot control these Oligarchs turned mafia warlords. Ukraine will eventually implode and become another lawless failed state.
  • vendor
    It is always better when a country is ruled by the "moderates" handpicked by the USA.
  • armorin reply tovendor(Show commentHide comment)
    vendor, just imagine....a world where that power is no more, it is neatly 'retired' in NA, its zone of influence. It can do , within reason, what it wants on its soil, but by then the good people would have been fully awakened, and who knows, NA could be even pleasant again.
    The rest of the world? It will do very well thank you, several poles will exist, with each one having its zone of interests or influence. More interesting, against that grand idea of the OWG, I suggest that the contrary is true: we will move MORE AND MORE towards small nation-States, where, as far as possible, Nations will have sufficient space to express themselves, politically and otherwise. Each Nation will keep, retain its cherished Identity, culture, customs, language, will feel protected in some way, and if threatened by bullies, could/should be able to call for assistance. I see absolutely no need for fusion, assimilation, integration. I will go as far as saying that that is the only way to real Peace. Good fences normally make good neighbours, except in the 'enlightened 'EU, which is failing under our eyes right now. Pax.
  • Ukraine is actually one big Polish joke, and only the khazars who carried out Maidan coup know about it. But noodleman did not know Putin was listening in on their every move, including her infamous call appointing "Yats" as PM
  • Ukraine was set up right from the beginning. They got suckered into EU scam. Now their country is no longer theirs.
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