Statistical data testifies to a lack of economic growth in Ukraine, and such growth will be possible in the future only due to an increase in public expenditure. This was stated at a press conference in Kiev by Sergey Lepeyko, an economic expert from the “KyivStratPro”analytical center.

“There is a lot of statistical data concerning whether the economy of Ukraine grows or falls. There is political engagement in these questions.

I spent a long time looking for parameters that can be relied on and looked at the international experience. There are two very important indicators for the American stock market – the index of purchasing activity of managers of large American companies and the number of non-agricultural workers.

Taking into account the shadow economy of Ukraine, we don’t have these indexes. We can’t rely on them.

I started looking for some other things and found, it seems, three. I assumed that a growing economy should consume more electricity and haul more goods.

What does the statistical data say? Electricity consumption in Ukraine dropped by 0.8%. This is two months of 2018 compared with two months of 2017. It is difficult to estimate the volume of cargo transportation by heavy vehicles in Ukraine, it is obscured by some shadow. The volume of cargo transportation by rail also dropped during these two months, by 0.6%.

Everyone says that the economy of Ukraine is expected to grow from 2 to 3.2%. Such growth is possible if foreign policy and internal political conditions stabilise and the team of the Ministry of Finance and the State administration cope with the task of refinancing the State debt and attracting investments.

Then we will have such growth – due to the growth of public expenditure,” said the expert.

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