In his article, the author recalled that European leaders did not hesitate to "trumpet" loans to Ukraine in the amount of €18 billion in 2023 as a tool to maintain the country's macro-financial stability.
At the same time, with increased pressure on the country's economy due to the conflict, a less optimistic picture of the real effect of financial support for Europe is emerging, Drea said.
In his opinion, Ukraine does not need loans, but a debt deal with the EU.
At the same time, the deal should include a significant debt restructuring and "the transfer of tens of billions of euros in the form of gratuitous grants," the author is sure.
According to his forecasts, Kyiv will soon have to "run the printing press" to finance daily utilities.
“As the Germans, the Dutch and others often like to remind Europe, this will lead to an economic disaster,” the specialist emphasizes.
He recalled that the expected budget deficit of Ukraine will amount to €40 billion in 2023.
On January 17, it became known that the European Union sent the first tranche of assistance to Ukraine in the amount of €3 billion.
Since March, the European Commission plans to transfer €1.5 billion in loans to Ukraine every month from a new package of macro-financial assistance.
In November, the head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Daniil Getmantsev, said that Ukraine's public debt exceeded $103 billion at the end of October.