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Posted On

02
May
2022

Verkhovna Rada presents plan for economic recovery of Ukraine from president, Cabinet of Ministers

KYIV. May 2 (Interfax-Ukraine) – The plan for the economic renewal of Ukraine, developed by the Office of the President and the government, provides for full access to the markets of the G7 and the European Union, membership in the EU, as well as building an economy on the principles of liberalization and deregulation.

"The plan for the economic renewal of Ukraine, developed by the Office of the President and the government, was presented today in the Verkhovna Rada," Andriy Yermak, the head of the President’s Office, wrote on the Telegram channel on Monday.

He gave the main principles upon which the plan would be built:

1. Full access to the markets of the EU and the G7. The UK and EU countries have already announced the abolition of import duties on Ukrainian goods. We expect similar actions from the governments of the United States, Japan, and Canada.

2. Obtaining candidate status, and then full membership in the EU.

3. Building the economy on the principles of deregulation and liberalization. A declarative principle of business has already adopted on most licenses and permits.

4. Setting up logistics routes to the west. The government is working to expand their capacity. There are already first results: an appropriate memorandum has been signed between Ukraine and Poland.

5. Transition from the export of raw materials to processing in industries that provide the highest export earnings. In agriculture and metallurgy, thanks to processing, it will be possible to achieve its significant growth.

6. Development of the domestic military-industrial complex. The matter concerns not only the purchase of weapons, but also production, including through the transfer of military technologies.

7. Energy self-sufficiency will be achieved by increasing the production of own gas and the development of nuclear energy. In 3-5 years it is quite possible to get energy independence.

8. Climate modernization. The creation of new facilities in various industries should take into account the principles of the "green economy".

9. Localization of at least 60%. Ukrainian companies and manufacturers will be involved in the restoration of Ukraine. This will give an impetus to the economy, create new jobs, and revive entrepreneurial activity.