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Ukraine will need up to $30 billion in investments annually over next 10 years - Shmyhal

Денис Шмигаль

Over the next 10 years, the Ukrainian economy will need between $10 billion and $30 billion in annual investments.

According to Censor.NET, Prime Minister Denys Shmyhal announced this on his Telegram channel.

"We need reconstruction, access to foreign markets and improved logistics. We need foreign investment and technology transfer from our partners. Ukraine needs $10 to $30 billion in annual investments over the next 10 years," he said in a statement.

Shmyhal also stressed that it is important for Ukraine to have "predictable, rhythmic and stable support from its partners".

At the same time, the Prime Minister noted that the government has launched a number of economic stimulus programmes that have had a positive effect. According to him, last year, GDP recovered by 5.3%, and in the first 4 months of this year, it grew by another 4.4%.

Shmyhal stressed that the energy sector needs special support after Russia's strikes on Ukraine's energy system.

"We need more air defence systems, more power equipment, assistance in expanding electricity imports to Ukraine, and help in decentralising the energy system," he concluded.

As a reminder, the Finnish-Ukrainian investment company Double Tap Investments has decided to invest in Ukrainian defence technology start-ups.