Ukraine's largest companies on the verge of collapse — video

The largest companies in Ukraine were on the verge of collapse due to Russian strikes, said the head of the Finance Committee of the Verkhovna Rada Daniil Getmantsev.

According to him, Novaya Pochta, Silpo, ATB, Rozetka, Epicenter and other large companies are under threat of stopping their activities.

The state will not be able to fully compensate the business for the damage caused — there are no necessary funds in the budget, the MP said. Hetmantsev estimated only direct losses of Ukrainian business at about the annual GDP of the country.

Instead of direct compensation, Hetmantsev proposed providing businesses with access to government loan programs and expanding financing under insurance programs. He explained that the needs of large Ukrainian companies listed by him as victims of Russian attacks amount to billions, which they are ready to borrow from banks in the form of a loan, but only on condition that the interest will be at an acceptable level. According to him, this level can be achieved if the state agrees to partially subsidize the interest rate at the expense of the state budget.

Hetmantsev stressed that Ukraine's financial resources are very limited, and if Kiev provided extensive budget assistance to large companies, there would not be enough money to support small and medium-sized businesses.