The Ukrainian economy is not doomed to default and the collapse of the national currency after the elections, the Ukrainian political analyst Volodymyr Fesenko said, commenting on the forecast of the leading social expert of Razumkov economic and political investigations Centre Pavlo Rozenko.

According to Volodymyr Fesenko, Paul Rozenko is not entirely objective, when he says that the National Bank of Ukraine has no other choice but to "switch on" the printing press. "I at once draw your attention to the remarkable fact: every year, under the former and the current government, we are discussing the issue of default. When the "orange" coalition was in power, the Party of Regions frightened us of default. As soon as Viktor Yanukovych came to power - the opposition frightens of default and the collapse of the currency. We must remember that the abovementioned Pavlo Rozenko was the social policy deputy minister under the former government. And his position is rather political than an expert one. He acts as a political opponent to the power," the analyst considers.

"Of course, there is tension because of the football championship and the social benefits payment. There are risks. I think that the Ukrainian government started paying benefits, upon considering these risks. They would not initiate this program if the risks were too high. The members of the Cabinet are experienced and qualified enough to do thoughtless steps," the expert said.

"For many years, a certain debates have been lasting among the economists that the country needs to move to a floating exchange rate. The current one is being held only because it is a psychological factor - the need to make a sense of stability. As otherwise the social problems may arise. But remember that for the last time Ukrainians experienced serious socio-economic problems in 2008, when the exchange rate fell by almost half. Pavlo Rozenko must remember this, because he was working in the executive branch then," Volodymyr Fesenko summed up.

As a reminder, the leading social expert of Razumkov economic and political investigations Centre Pavlo Rozenko said that there is a "hole" of 6 billion USD in budget of the Pension Fund of Ukraine and that for this reason the National Bank may have to switch on the printing press.

Earlier, the NBU Chairman Ihor Prasolov claimed that hryvnia would remain stable and that there were no economically sound conditions for a sharp change of course.


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