The new economic policy of the Yatsenyuk Cabinet of Ministers will lead to an unpredictable drop in GDP - Federation of Metallurgists of Ukraine

The recently adopted laws on the sequestration of the state budget and on the prevention of a financial catastrophe in Ukraine carry significant risks for the mining complex and for the Ukrainian industry as a whole, which may lead to a drop in Ukraine's GDP significantly below the level predicted by the government. This was announced by the Federation of Metallurgists of Ukraine (FMU).

The sharply increased rate of payment for subsoil use against the background of rising excise taxes on fuel and natural gas prices will negatively affect the competitiveness of the Ukrainian metallurgy and may lead to the inability of metallurgists to maintain the existing levels of wages and social benefits.

The FMU stressed that these legislative innovations will show themselves especially strongly in the context of the loss of access to the sea trade ports of the Crimea, the difficulty of access to the rest of the ports of the Black Sea basin, the difficult economic and political situation in the country.