Ukraine has many trump cards for economic breakthrough even during war, - Melnyk
Ukraine continues to counter Russian aggression while maintaining macroeconomic stability and laying the groundwork for post-war recovery and growth.
According to Censor.NET, citing Ukrinform, Ukraine's Permanent Representative to the UN, Andriy Melnyk, made this statement at the U.S.-Ukraine Business Partnership Forum, "The Path from War to Recovery," in New York.
The country is already laying the groundwork for post-war recovery
"Ukraine today is a unique example of an economy that is simultaneously stabilizing the system and preparing for long-term growth and reconstruction," the diplomat noted.
Melnik emphasized that after the start of the full-scale invasion, inflation in Ukraine exceeded 26%, but it has now fallen significantly thanks to prudent monetary policy and the resilience of institutions.
"Unemployment is gradually declining, real wages are recovering, and the foundations for a recovery are already being laid," the ambassador said.
Ukraine is saving its "trump cards" for future growth
At the same time, he highlighted the significant fiscal pressure resulting from defense needs:
"Ukraine is currently shouldering an extraordinary fiscal burden, equivalent to nearly one-fifth of its GDP, in order to protect our sovereignty."
Despite the war, our country has maintained macroeconomic stability and continues to adapt to the conditions of a protracted conflict. "Ukraine is a perpetual startup," Melnik noted.
According to him, innovation, creativity, and technological development have become key features of the Ukrainian economy, even during the war.
"We have some trump cards. We've got plenty of aces up our sleeve," remarked the Ukrainian diplomat, playing on the English word "trump."
