Saturday, January 24, 2015

The Humane Thing to Do Is to Let Ukraine Default - Russia Insider

Ukraine is a big country. After Russia it is the second largest in Europe. It is also a very populous country. It numbers 45 million people. I'm told that is more than lived in the entire Roman Empire.

In economic terms, however, Ukraine is sadly a minnow. Its GDP is about $180 billion.

In other words, its economy is smaller than that of Peru, Romania, Kazakhstan, Portugal and Greece — all of whom have far smaller populations and none of whom are known for exceptional wealth.

Ukraine’s budget in recent years has hovered at just under $60 billion. That is a small number.

Primarily due to a drastic fall in the exchange rate of its currency, its 2015 budget only amounts to $30 billion.

By comparison Slovenia is a post-Communist country in Central Europe of 2 million people. It has a budget of $20 billion.

Russia’s 2015 budget is $390 billion (3-4 times Ukraine’s population but 12 times the budget).

Complete story at - The Humane Thing to Do Is to Let Ukraine Default - Russia Insider

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