16:38 GMT +320 July 2019
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    EU Won't Pay Ukraine's Bills - Russian MP

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    Most of the EU countries realize that Ukraine will not be able to restore its economic potential without close ties with Russia, and they have no desire to foot Kiev’s ever-growing bills, the head of international affairs at the State Duma, Alexei Pushkov, tweeted on Friday.

    Repayment of the state debt, which this year is expected to exceed 90 percent of GDP – 30 percent above the legal maximum of 60, and increased spending on the army and police make up the bulk of Ukraine’s budgetary outlays.

    Adding to the government’s woes, the economy is in a tailspin with the hryvniya value dropping by more than twice in the past eighteen months.

    The indexation of pensions by 13 percent from September 1, the first since March 2014, will not be enough to make up for the almost 70 percent drop in the average Ukrainian’s income and the hard-hitting, five-fold jump in the cost of heating gas.

    Related:

    Russia to Declare Ukraine in Immediate Default if Kiev Fails to Repay Debts
    Russian Bond Included in Ukraine's Debt Restructuring Plan
    Tags:
    state debt, economic decline, Russian State Duma, Alexei Pushkov, Ukraine, Russia
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