
In the near future, we expect to start the restoration at the expense of funds seized from russian banks: Denys Shmyhal
The state budget for the current year provides UAH 35.5 billion for the Fund for the Elimination of the Consequences of Armed Aggression. This envisages the construction and repair of public buildings, critical infrastructure facilities, provision of housing for IDPs. This was stressed by Prime Minister Denys Shmyhal at a Government session on January 3.
“Also, in the near future, we expect to start the restoration at the expense of funds seized from russian banks - there is already a sum worth UAH 17 billion on the special account for this purpose. The primary concern is the destroyed housing of citizens,” highlighted Denys Shmyhal.
According to the Prime Minister, attraction of foreign investments into the Ukrainian economy will be a part of the major reconstruction. Therefore, this year Ukraine must complete the negotiations on the insurance of military risks for foreign investors.
“Inside the country, the priority is to create the most favorable conditions for investment. In particular, simplification of preparation and implementation of public-private partnership projects. As well as minimization of requirements for investment projects with significant investments and further simplification of permitting and licensing conditions,” noted Denys Shmyhal.
In 2023, according to the PM, the Government will continue the most effective programs to help the private sector. These are soft loans at 5-7-9%, grants under the eRobota (eWork – ed.) project, state support for Ukrainian processing industry and domestic producers in general. A program of affordable mortgage lending, eOselia (eHousing – ed.), will be activated to stimulate the construction sector.
Besides, the CMU is working with partners to attract USD 38 billion to finance the budget deficit this year. These are primarily funds from the EU, the USA, and the IMF.
“Macro-financial stability is the foundation of our economic recovery. We have a clear plan to fully finance all critical expenditures just like last year,” summed up the Prime Minister.

