Attracting domestic resources, developing our own market and continuing cooperation with international partners are the key guidelines of the Government's financial strategy. This was stated by the Prime Minister during his speech at the 2nd SME Forum. Reboot 2020, which was held in Kyiv on September 4 with the participation of business representatives.
"Presently, we are shaping a realistic budget for next year. The GDP growth is planned to the tune of 4.7% next year. The target deficit is still around 6%, however we want to reduce attracting foreign funds and to develop the domestic financial market from year to year. Thus, our financial strategy is to attract domestic resources, develop our own stock market and continue cooperation with international partners," the PM said.
The Head of Government dwelled on that amid the problems related to the pandemic and the global economic crisis, there are a number of opportunities available for Ukraine and Ukrainian business.
"These opportunities are the production of the vaccine by our pharmaceutical companies to the beginning of deep processing of agricultural products and food production. The leap forward in IT technologies is also our potential, because we have a very good scientific and educational base. Today, we need to educate young people who can work in the field of IT and the development of new technologies - this is also the future," Prime Minister stressed.
During his speech, Denys Shmyhal also spoke about the areas of state support for small and medium-sized businesses.
"During the work of our Government, the discount rate of the Central Bank decreased from 11% to 6%. Today there is already a mortgage at 10%. Our goal is lending in hryvnia at an average of 7%. This week, the Verkhovna Rada passed a government law on state guarantees. The first sum worth UAH 5 billion has been allocated. These will be state guarantees for loans to small and medium-sized businesses and state-owned enterprises, which can ensure our export development," the Prime Minister said.
Denys Shmyhal placed an emphasis on the Diia (Action).City project as one of key tools for supporting business. According to the PM, it is recognized by experts as one of the best business projects in the field of IT and digitalization of public services.
"Diia (Action).City" is one of the types of special economic zones for business. To become a leader in the region, we need to take two steps forward by taking advantage of the crisis. Diia (Action).City is one of such steps that will give us new breakthrough ideas and business opportunities," the Head of Government emphasized.
The Prime Minister added that the price and availability of lending resources for business are two overriding issues that the Government is working on together with the National Bank and the banking system.
"I am convinced that by the end of the year we will present the results of this work, and business will see real changes in lending rates and the availability of financial resources in the banking system of Ukraine," Denys Shmyhal underscored.