• Українською
  • Economic advisory council under Ministry of Economy discusses introduction of incentives for development of processing enterprises and economic recovery
    Ministry of Economy of Ukraine, posted 25 March 2024 11:06

    Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, and Oleksii Sobolev, Deputy Minister of Economy, took part in a meeting with members of the Economic Policy Advisory Council. The main topics of discussion were practical steps to speed up economic recovery, de-shadowing the economy, developing processing enterprises and creating conditions for Ukrainians to return home from abroad.

    “It is a great honour for us to receive your advice and benefit from your experience. Not every country has the opportunity to bring together the best economic minds in the world to work on developing its economy. At the same time, not every country has faced a challenge of the magnitude that Ukraine is facing. Last night, russia shelled our energy system with more than 60 drones and almost 90 missiles of various types. This is yet another proof that russia is a terrorist state,” said Yuliia Svyrydenko.

    According to her, one of the main tasks of the Government this year is to reach maximum economic self-sufficiency. In this context, it is necessary to stimulate Ukrainian production more effectively.

    The Council members presented a number of successful cases from different countries on how to mobilise the economy during wars or major economic crises. Some of this experience can be used to help Ukraine recover.

    During the meeting, representatives of the Ministry of Economy and experts also discussed the issue of attracting private foreign investment to rebuild Ukraine. Among other things, the parties discussed increasing the efficiency of using the funds that Ukraine will receive under the Ukraine Facility programme to stimulate domestic production, creating opportunities to attract additional funding from donors, the prospects for using frozen russian assets to restore the Ukrainian economy and effectively confronting challenges that may arise in the medium and long term.

    Background

    The Economic Policy Advisory Council under the Ministry of Economy was established at the initiative of First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko. The new advisory body under the Ministry of Economy includes leading global economists, Nobel laureates, university professors and CEOs of international companies. The Council is chaired by Yuriy Gorodnichenko, Professor of the Department of Economics at the University of California, Berkeley. Organisational support is provided by the Kyiv School of Economics.