Pinzenik: The country teeters on the brink the possible. The string can burst at any time

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The ex-the Minister of Finance Victor Pinzenik calls a present economic situation balancing "on the verge of possible".

"... Recession rather strong. Such didn't expect in the worst forecasts. Inevitable payment - falling of real salaries and pensions", - was told by Pinzenik in interview "To the newspaper on - Ukrainian".

On a question, whether there can be a situation in economy uncontrollable, about what it I wrote in January in the report addressed to the prime minister, he answered:

"I wouldn't like to speak about it as about the scenario of our future, but conditions for its realization are. The country teeters on the brink possible, in all systems it - as is tense a string. At any moment can break".

"Strong recession of economy, the budget has serious deficiency, there are no sources for its financing, and margin of safety isn't present, because treasury accounts - "naked"! Such was never. It is life in one afternoon or one month", - he added.

Pinzenik also called inadmissible concealment by the government of statistical data on state of the economy.

"I read in the press of the message on problems with access to statistical information. It is abnormal for the open country! On the contrary - informing of society on a situation gives chances for the correct actions", - he told.

Making comments on a hryvnia exchange rate question, Pinzenyk noted that devaluation of hryvnia which happened at the end of last year, was inevitable.

"But factors which then affected its course, today any more don't work, they can't become the basis for hryvnia falling again. The excessive monetization of economy caused by the budgetary situation" can affect a course, - he told.

Pinzenik also confirmed that the National Bank carries out hryvnia issue.

"It (the press of money) occurs and now. But didn't reach the menacing sizes, however there are certain limits. Participation of National bank in a covering of expenses of the government is too great. Also there is a high gain BDSL (bond of domestic state loans) which are in NBU property. Though for the beginning of 2008 the National Bank at all didn't keep money in them, i.e. the government had no debts to National bank", - he told.

On a question, how many now the Cabinet of Ministers ran into debt NBU, Pinzenik answered:"About 24 billion hryvnias for the last half a year".

At the same time it didn't exclude hryvnia strengthening in the future

"The present course situation isn't eternal. In the long term I see hryvnia strengthening. This year - No, however it isn't excluded that it will happen in 2011 when the world markets of money will renew. Certainly, the Ukrainian policy can introduce in these processes amendments", - Pinzenik told.

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