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Ukraine has deficit in foreign investors

Posted by the Editor on April 28, 2005


News / 28 April 2005 | 14:10

Ukraine has deficit in foreign investors

Promises of the Government to bring foreign capital to domestic economy turned into strange contradictions in Customs legislation and resolutions of the National Bank.

As Mikhail Sirota, the leader of Trudovaya party (Labour party), said, inflow of foreign investments was stopped due to demand of paying taxes for those investments made by would-be investors, DVC reported.

"They are demanded with additional money because they want to invest into our economy. You can come across with this nowhere in the world. There are no internal investment resources in Ukraine; Ukrainian capital is not formed as it is. It should be noted that Ukrainian bank capital is not only weaker than European, but weaker than Polish, Lithuanian and Russian", – Sirota stressed.

Most surprising is that first changes hit domestic manufacturers, though it was planned to back up them, first of all. For example, the Government resolved to struggle against high prices for meat by having imported more that one million ton of meat under 10% import duty and 20% of VAT. However, many analysts regard the large-scale intervention as liquidating of domestic livestock farming, as he noted.

"There is no a united program and a united team, and this does not promote economical grow ", – he states, – "Worsening of economical situation will become a very appreciable impact upon the Power’s authority, and achievement of economical stability is impossible when  united objectives and united officials are unavailable".

ForUm

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