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You're reading: Poroshenko fears uncontrolled economic situation in Ukraine due to foreign borrowing
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“If we don’t stop taking uncontrolled loans that are not invested in the economy and are just eaten away, this may result in an uncontrolled situation,” Poroshenko told journalists in Kyiv on Thursday.

He added that today more than a third of the national budget is spent on servicing Ukraine’s foreign debt, the same as in 2012.

Poroshenko said Ukraine pays rather high interest of 6-11% and higher per annum for its foreign debts, while Western European countries pay 1.5-2% in interest.

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