We have a challenging task - while facing aggression to convert the post-Soviet Ukraine into the developed country – a meeting of Prime Minister and economist Lawrence H. Summers
Information and Communication Department of the Secretariat of the CMU, posted 14 September 2018 12:18

The Government is committed to a challenging task: in the conditions of military and economic aggression, to convert a post-Soviet Ukraine into a developed state with a powerful economy and a growing welfare of citizens. Prime Minister of Ukraine Volodymyr Groysman issued this statement during a meeting with Lawrence H. Summers, one of the leading economists of the present, former Secretary of the Treasury for President Clinton and the Director of the National Economic Council for President Obama. Lawrence H. Summers is visiting Ukraine, which for many years has been considered one of the most powerful countries in South-Eastern Europe.

"There is a difficult time right now- to convert this country from the post-Soviet state into the developing economy, especially facing the threat of this armed conflict. We would like to really have a highly economically developed country which would be in line with the expectations for the living standards", the Prime Minister said.

"I share your view that an ultimately strong country has to be based on a strong economy. A strong, democratic, successful government is much more likely if people are seeing material progress in their lives. And I am very much aware of  the gravity and seriousness of Ukraine’s security challenges. And I am also aware of the fact that since the breakup of the Soviet Union, Ukraine’s economic performance has been disappointing than other republics of this region. President Bill Clinton used to say that Ukraine is going to be absolutely central in this region. In different ways, he is proving to be correct. So, I think that what happens here is a very important moment", Lawrence H. Summers said.

The parties noted that the modern world is facing a lot of challenges that it had not confronted before. The issues at stake are hybrid wars, cybersecurity, and  unpredictability of the situation in developing countries, given their leading role in the overall growth of the world economy. However, any problems can become opportunities.