Denys Shmyhal: Reforms are the path to victory, growth, and return to the large European family

Reforms in wartime are as urgent a need as a strong army, modern weapons, and an efficient economy. Changes are the path to victory, to growth, the path to returning to the large European family. This was emphasized by Prime Minister Denys Shmyhal during the presentation of the Reform Matrix jointly with the World Bank.

"The Reform Matrix is a plan of changes that includes all approved recommendations from partners. The recommendations of the European Commission, IMF structural beacons, the Ukraine Facility Plan, World Bank requirements, and others," the Prime Minister said and added that for the current year alone, it includes more than 300 conditions and more than 500 indicators.

According to him, the list of conditions is being updated and changed. Therefore, the ‘matrix’ demonstrates the scale of the current tasks and their sequence, which is important for decision-making.

"Secondly, it is the monitoring of implementation. Thanks to the Reform Matrix, we track progress in specific areas. We can track not only conditions and indicators, but also deadlines, participants, and status. Thirdly, it is transparency. The matrix is an open tool. Both society and our international partners can monitor the implementation of reforms," said Denys Shmyhal.

According to the Head of Government, as of today, the state has fulfilled 27 indicators under the Ukraine Facility intstrument. We have reached 28 IMF structural benchmarks. Under the DPL loan from the World Bank, measures have been taken to fulfill 11 triggers.

Among the key steps is the reform of public investment management. The Prime Minister focused in detail on the steps taken in this direction. In particular, the Strategic Investment Council has been established, and the Unified Public Investment Projects Portfolio has been formed, containing 787 positions with a total value of UAH 2.6 trillion.

"Another area is the rule of law and improvement of the business environment. We are preparing various steps to support investors after the end of the war. We continue digitalization and deregulation. We have already reviewed more than a thousand regulatory instruments. The support programme for small and medium-sized businesses will continue to operate," the Head of Government noted.

According to the Prime Minister, the third priority area for the implementation of the Reform Matrix is energy.

"We are working closely with the European Commission and the energy community to introduce new approaches. Green energy, decentralized generation, greater resilience, despite russian energy terrorism. We are now focusing on increasing alternative and renewable energy sources and decentralizing the energy system," said Denys Shmyhal.

The Prime Minister thanked the World Bank for its significant support, which allows Ukraine to maintain macro-financial and macroeconomic stability, and implement important projects and reforms in the face of war.