Ok but my girl is still working 10 hours a day 5 days a week so it's not like they aren't spending any money for goodness sake if they got money to do their nails and hair it cant be all bad. yes they do need to get their s**t together and the fighting in parliment just cracks me up it's like high school. Throwing eggs, smoke bombs. Looks like a local friday night football game in se Texas. my girl is talkin about us moving back there in 25 30 years seems like we might be able to pick up a really nice Datcha in the not so distant future somewhere around Crimea maybe. I love the place and if I could make a decent living there I would gladly forego all the USCIS BS pack the dog up and be on the next flight outa here.
RB
Not much appears to have changed - most of what I predicted 6 months ago hasn’t come to a head.
The election took attention away from the domestic financial facts.
Car repos haven't happened as I expected - reason - Yulia stopped Banks pulling car loans in, so people are literally driving around in cars they have not paid for - in a sense.
Property prices also have just stalled - not going up or down apart from Blue Chip which has increased after a dramatic slump late last year.
Everyone appears to be carrying on like before but curbed their spending and doing what they have done before - "head to the grindstone"
They are VERY resilient people – that’s for sure !!!!!!!!!
We will be back there June – July = so will do a better “coal face” assessment then
Thanks Max. It's no wonder noone trusts banks over there. How can they survive with tactics like that? I wonder why property prices stalled? Is that government intervention also?
PS
The currency issue is a complete mystery to me
Cant figure it out at all !!!!!!!
Ukraine UAH has been sitting on 7.9 against the US$$ since the Election – I thought it would be 12 – 1 by now – WRONG again !!!!!!!
I've been twice this year so far, and the UAH seems to have been gaining strength. I got 13 on the £ last august, 12.(something) in Feb, and 11 last month. The dollar also seems to be falling, but not as fast. 8 last year, 7.9-ish now.
I am glad to see this post & catch up on some current details. I had posted a thread a few months ago but in Ukraine, much can happen in that time. I subscribe to a couple of true Ukraine News Agencies and allow Google Toolbar to translate the pages. You have to look past all the bluster and dig for hard #s in all the mess. Ukraine economics & politics are similar to what I experienced in Thailand in that the Head of 1 Ministry will bluster about how his ministry is bringing wealth, prosperity & 300% increase. Then turn around and dramatically wail over how another ministry has squandered all the returns. ie...you can't believe a word you read. It's all posturing. No oversight, no accountability. Hard for 1 politician to point out corruption when the other guy knows where you parked YOUR $.
Some things do seem to have improved. Inflation at 1 point last year topped 18%. The IMF has suspended payments when the government, instead of Reducing debt & curtailing social welfare programs, increased them instead. Man, they (IMF) were pissed. They withheld 1 installment for some time. That would just be the death nail to the Ukraine economy. What I do seem to see in the current news is a lot of preoccupation with Greece and the feeling they were "cut off" by the IMF and rest of Europe. (of course, you can't save a ship filled w/ holes) That's a near quote from a headline that went on; "What's Next".
Yes, they are very resilient people. But 1 lesson should be learned from our U.S. financial mess. When you are leveraged beyond any real expectation, it is better to suffer through a shorter, VERY difficult time and allow the debt to naturally be absorbed. Then start over again with balanced economics. But there is no politician in the world willing to come out & tell the people to suck it up. He's getting ready to pull the toilet handle and it's going to be a real rough ride. Instead they look for artificial ways to keep their economy propped up and let it all fall down on some other chap in the future.
There was 1 upcoming reality that caught my eye;
"Bad" habits Expensive: excise tax on tobacco, cigarettes and petrol will increase ...
Cabinet initiates a rise in excise tax rates on tobacco, alcohol and beer. In the list with "harmful" habits were and auto enthusiasts. Excise duty on petrol will rise, too ...
A "sin" tax?!! Hmmm...wonder how that will go over in Ukraine? 2 columns over was an article; Ukrainians - the third in the world for the consumption of vodka!
I may not be too bright but seems to be a bit of a rub there.... Tax Ukaines vodka, tobacco & the gas to get there???
Re; housing. A lot of the ladies I've corresponded with have jobs and a child but living in the flat of a pensioning parent. That may be just a norm from divorce. Going from living in the domain of the husband. Then needing to find a place for you and child to live.
I'm not certain how optimistic to be for near future. It's likely to get worst before better. Hard decisions and actions will have to be made. I would like to hear what competitive industry Ukraine has to support itself with on the world markets. Their ship building is so old and inefficient. I know they trade in steelworks but really, how much can they balance or bring in against other suppliers. India, Philippines and other nations were smart enough to look for markets. Ever called a 1-800 Warranty/Service # and understood a word they said? I just see Ukraine stuck in the same 'ol, same 'ol.
I just got an email from the girl in Zaporozhye I visited in February, 2008. She knows I visited in November of 2008 without visiting her. She was quite upset over that. I told her the deal. I thought I would not hear from her again. It must be the economy.
It is reported that Jennifer Lopez got $1 million for performing at a wedding in Ukraine. Wow. It's interesting to know that someone in Ukraine has that kind of money. I wonder what industry he made his money on.
One of my friends from Mariupol told me that if you want to open a restaurant there, you have to pay 1 million UAH to the mayor (in an envelope, of course).
There's loads of money, it just hardly ever reaches the general population
If it's anything like the Philippines, the money the politicians get will be instrumental in buying votes in the next election. It is expensive to be elected as they try to outdo each other.
I recall a story I read in a Philippine forum about a mayor in the northern Philippines. He went to a travel agency for plane tickets for he and his wife. It was sold out. He made threats, but it was still sold out. The next day, the travel agency's license to do business was revoked.
same o same o. nothing has changed over the past year but taxes and kiosk businesses getting
put through the wringer. There has been some inflation. The Elite class still gets away with
criminal acts like beating up young girls in restaurants while people watch but do nothing.
on the upside, hot water maintenance went by quickly in Kiev this summer! mine was off last 2 weeks of June
but all is well now. dollar was 7.97 today
i am in odessa ukraine now and confused.
OK i was here 4 years ago. it was 5 uah one dollar and now it is 8 uah.
so like i am going to have a lot of fun, bar money, girl money, right?
hotel in city center was 300 uah and now 500 uah.
airport taxi was 200 uah and before was 120. of course normal taxi costs less.
so really everthing seems to cost the same and not less.
i thought this was going to be a cheap vacation.
and the militia, it is normal something bad happens to me.
today at airport i had no problems, but not for unfortunate lad who had a grateful dead T shirt
and $2,000 in cash. the costums police nailed his butt. i don`t know how much he had to pay them.