Office of President has announced large-scale transformation of economy following war
Ukraine’s post-war economy must become as open and competitive as possible, and the state must not only rebuild the country but also implement far-reaching reforms.
According to Censor.NET, this was stated by the Head of the President’s Office, Kyrylo Budanov, during a meeting of the Council for the Support of Entrepreneurship.
Three pillars of the new economy
Budanov stated that Ukraine must create one of the most liberal economies in the European Union. According to him, the key task is not simply reconstruction, but large-scale transformation.
"The post-war Ukrainian economy must be the most liberal, open and competitive in the European Union. Our task is not simply to rebuild, but to carry out the most far-reaching economic transformation on the continent in recent decades," he emphasised.
The new economic model should be based on three main pillars:
- eradicating corruption and ensuring a level playing field for all;
- developing a robust industrial base for defence and reconstruction;
- creating an innovative economy with access to global markets.
Strategy and business involvement
During the meeting, a draft strategy entitled ‘The Economy of the Future’ was presented. Representatives from the Office of the President, the government, international experts and the Ukrainian business community are working on the document.
The meeting was also attended by Prime Minister Yulia Svyrydenko, government officials, MPs and business leaders.
According to the Head of the President’s Office, the business community noted that some of the issues raised at the previous meeting had already been resolved.
He emphasised that work to improve conditions for the economy is continuing.
"We are continuing to remove obstacles to the effective functioning of the Ukrainian economy," Budanov said.
We previously reported that the Cabinet of Ministers of Ukraine is introducing a new programme to help businesses affected by shelling get back on their feet. From 1 July this year, small and medium-sized businesses will be able to access cheaper loans to restore destroyed or damaged property under the ‘Affordable Loans 5-7-9%’ programme.
