PhD (Economy), Leading Researcher of the Institute of World Economy and International Relations of the NAS of Ukraine * * * Ukraine meets its demand in mineral resources used as sources of power for about 45% by its own production. In the majority of countries this index is similar while in many states (including some developed economies) it is much smaller. So, it is not the problem of the volume of available resources. The energy problems in Ukraine may have two aspects. First, the excessive industrial power consumption as compared to the developed countries. Even comparison with our CIS partners (to say nothing about western countries) shows that domestic power consumption per one GDP unit is 37 conventional units, in Russia-29, in Belarus - 24. Second, there is no import diversification with one-sided dependence on only one country-Russia. However, these two aspects are but reflect the general economical situation of Ukraine conditioned by the poor investments into production covering only renovation of fixed capital and introduction of new energy-saving machinery. There is no money left for technological breakthroughs. To a great extent this situation is conditioned by the low return level of Ukrainian export revenues invested into production. A considerable share of money is hidden in western banks and offshore zones, spent on expensive import cars, estates, holidays at the fashionable world resorts, articles de luxe for Ukrainian elite against the background of impressing impoverishment of the majority of population. It is known that during the whole history of the Ukrainian independence the direst investments have reached only about $5bn while, according to some sources, the level of annual export of domestic capital from Ukraine is at least 4bn. The capital outflow is facilitated by an obligation to sell to the state 50% of the export revenues for the hryvnia exchange. If only this capital could be left at home and invested into domestic production! I th ... Читать далее