Kyva: Modernization, effective management to be impetus for economic recovery

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The audit and revision of the conditions, on which strategically important facilities were privatized earlier, will provide funds to the budget of Ukraine and strengthen the economy, Head of the Socialist Party of Ukraine (SPU) Illia Kyva said.

"It is necessary to revise the terms of privatization of strategic importance, appoint effective managers. The money from privatization does not go to the country's budget to modernize and equip high-voltage lines, for their expansion. They go into the pocket of one person," he said on the Nash TV channel.

The politician said that in 27 years, the so-called oligarchy has been formed in Ukraine from people who "stole entire industries."

"Nine regional power supply companies of our country were privatized by a Russian businessman, a member of the State Duma [Alexander] Babakov, and today Ukrainians pay for electricity to a private person. MP [Ihor] Kononenko, in fact Poroshenko's right hand in his "economic processes," monopolizes the nickel extraction market. For 27 years, we have received several families that influence the economy, politics, and the future of our country. They bought the "backwaters," sliced them, and put the profits in their pockets," Kyva said.

In addition, gas that Ukraine produces in the volumes sufficient for its own consumption also "belongs" to one oligarch.

"Ukraine produces 18 cubic meters of gas, and consumes 16 cubic meters. At the same time, we continue to buy it at inflated prices from Russia. This is because our gas belongs to one person - Firtash. Gas, which could become a pillar for the economy of our country, enriches one person," the SPU head said.

According to the politician, at present only land remains in Ukraine, and lifting the moratorium on its sale will destroy the country.

"Land is the last thing left. After the opening of the land market, we will have nothing more left, the country will be destroyed," Kyva said.