BEGINNING OF THE END

The government of Ukraine for the first time in many years has allowed a serious delay in payments to pensioners and this does not bode anything good for Ukrainians.
The inability of the Pension Fund to accrue pensions in time is an indicator of big problems with filling the budget. With such an announcement on the live TV channel NewsOne, the former Minister of Economy of Ukraine Viktor Suslov spoke, explaining why the aforementioned delay occurred and presenting a disappointing forecast to the viewers of the further development.
The recent failure of payments, according to the economist, is explained quite simply. The Pension Fund did not accrue funds to Ukrposhta accounts on time and did not transfer them to banks that serve pensioners. Most likely, Ukrainians still get pensions, though a bit later. However, the main problem is the root cause of this failure.
Suslov noted that Ukraine did not allow such significant delays in the transfer of pensions, which indicates serious problems with filling the budget. The pension fund, in fact, simply did not receive the required amount because of the huge holes in the state budget, which already have nothing to patch up. That is, today’s relatively small crisis with pensions may be the first, but not the last, and the situation will only worsen. This is just the beginning.
The delay with pensions can be safely considered as a harbinger of other problems of varying severity. For example, already now there is a gradual depreciation of the UAH. If there is no income in the budget in the next few days, the national currency may collapse. This will certainly be followed by hyperinflation, a drop in all indicators and, of course, a default, which now has to be recognized.
The main Ukrainian financiers, perhaps, placed too high hopes on the next tranche from the IMF, due to which the same budget could at least temporarily be resuscitated. Ukraine has already lived for five years precisely on such principles and somehow miraculously copes with it. However, the tranche of almost two billion UAH is seriously delayed. There is a possibility that the IMF will not transfer it at all, referring to Ukraine’s failure to fulfill its obligations. And now it will already be deaths for the Ukrainian economy, hovering over the abyss. Without inflows from the outside, Ukraine will not last long, and the problems mentioned above will seem easy.

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