Consumption boom, political crisis: what was Ukraine like in 2007?

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The year 2007 was remembered for the political crisis. In addition, the first early dissolution of parliament by the president took place, and Ukrainians began to buy apartments and cars massively.

We tell about it in the new issue of the documentary series “30 years of Independence” on the UA TV channel.

So, 2007 is a consumption boom. In order to take a loan from a bank, all you need is a passport and an identification code. Banks were willing to issue even mortgages.

“It was the “most productive” year for the real estate community, it was a period of peak growth in the value of a square meter of residential and commercial real estate” – realtor Iryna Tkachenko said.

The credit excitement was also felt by the employees of car dealerships.

In 2007, the entire world economy grew rapidly. And investors were no longer afraid to invest in Ukraine.

“The global economy began to grow, respectively, increased demand for Ukrainian exports, incomes went to the country, accordingly increased solvency, here on this wave of solvency, banks began to increase their lending” – Yaroslav Zhalylo, economist, deputy director of the National Institute for Strategic Studies said.

Traffic jams are now a disaster for regional centers, but it all just started in 2007. Affordable lending has brought thousands of cars to the roads. Roads, calculated by Soviet standards, simply could not withstand such an influx.

There was also a political crisis in 2007. Viktor Yanukovych, who has been prime minister for only a year, has grown rapidly, and President Viktor Yushchenko has risked powerlessness. The parties entered into a fierce confrontation.

In addition, that year the representative of Ukraine Verka Serdyuchka took second place at the Eurovision Song Contest.