Open AccessThe Greatest Problems of Economic Security of Ukraine
Author(s) -
Bogdan Ilychok
Publication year - 2019
Publication title -
vìsnik lʹvìvsʹkogo unìversitetu. serìâ mìžnarodnì vìdnosini
Language(s) - English
Resource type - Journals
ISSN - 2078-4333
DOI - 10.30970/vir.2019.47.0.10989
Subject(s) - ukrainian , population , loan , default , debt , business , state (computer science) , government (linguistics) , monopoly , financial system , economic policy , economics , finance , market economy , philosophy , linguistics , demography , algorithm , sociology , computer science
In Ukraine, 27 years in a row, catastrophic processes in the field of demography are continuing, which are caused by an extremely unsatisfactory standard of living for ordinary citizens. The main reason for existing problems is the abuse of state leadership, particularly in the banking sector. As of March 2019, in Ukraine, 52 % of the volume of loans granted to the population and entrepreneurs, is $ 22.5 billion in default. Along with the plunder of the population’s funds by transferring Ukrainians’ deposits into defaulted loans, the banking mafia strips out the most economically active Ukrainians, in particular entrepreneurs, also because of the monopoly high price of a loan, which is actually twice as high as the market-determined norm. Only in the past 12 months, the banking mafia has impunity plundered Ukrainians by 89 billion hryvnia because of excessively high interest rates on loans, which exceeded the budget of the Ministry of Defense of Ukraine in 2018, which amounted to 83 billion hryvnia. The author of the study developed a draft law «On Penal Bank Reserves», the introduction of which will reduce ten times the possibilities of the banking mafia to plunder the resources of the banking system of Ukraine The leadership of the state, parliamentarians in their activities demonstrate a solid commitment and unwillingness to eliminate the schemes of robbery of the Ukrainian people. The government has created a virtual reality, according to which banks are no longer interested in lending to entrepreneurs and people, but in the purchase of Bonds of an internal state loan. As of April 2019, the government attracted and spent $ 28 billion through this scheme. The catastrophic scam is only gaining momentum and its scale will have devastating consequences for the national economy of Ukraine, in particular for the hryvnia against the US dollar and the welfare of ordinary citizens. The solution of existing problems is proposed through a radical renewal by democratic elections of the parliament of Ukraine, further eliminating the greatest problems of the economic security of the state. Key words: default loans; interest rates; banking mafia; welfare; economic security.