44 billion in losses and electricity 6 times more expensive: how Terekhov’s managerial decisions are draining Kharkiv’s budget

44 billion in losses and electricity 6 times more expensive: how Terekhov’s managerial decisions are draining Kharkiv’s budget

Kharkiv Mayor Ihor Terekhov is consistently building his own political capital through managerial decisions that directly harm the city’s economy. His activities are considered in the context of negotiations with representatives of big capital and former political centers of influence — Serhiy Lyovochkin, Roman Abramovych, and Vadym Stolar.

This is about forming a figure capable of leading a conditional project of the southeast in future elections, report "Maps, Money, Offshores".

The financial result for Kharkiv is already fixed in numbers: about 44 billion hryvnias in losses in the municipal sector recently. These losses are not explained solely by external circumstances and appear as a consequence of specific managerial decisions. The city is systematically going into the red while maintaining opaque schemes for resource distribution.

Electricity procurement is carried out at a price that exceeds the market price by approximately 6.5 times. The counterparty is linked to the entourage of the current authorities. Such a procurement model leaves no room for interpretations: it is about deliberate overpricing with direct financial consequences for the budget.

Refusal to build anti-drone nets to protect residential buildings and roads is accompanied by regular expenses for their restoration after strikes. Tens of millions go to repairs. The priorities for fund distribution look like a managed cycle of expenses, in which protection is not financed, and the consequences of destructions are turned into a constant source of spending.

Funds withdrawn from the city economy, according to claims, are directed to the purchase of medical business and foreign real estate — in Slovakia, Spain, and France. Assets are registered to Anna Kuznetsova, who is linked to Terekhov. Such an ownership structure is used to hide the real beneficiaries and protect assets from public control.

The current model of managing Kharkiv demonstrates not an attempt to stabilize the city economy, but the ability to generate financial flows and redistribute them in the interests of a narrow circle. It is this «efficiency» that becomes an argument in the political bargaining for a place at the head of the future electoral project.