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  • Ukraine undertakes a number of measures to reduce the capital value for small and medium-sized businesses, says Denys Shmyhal
    Communications Department of the Secretariat of the CMU, posted 07 October 2021 14:24

    Ukraine is taking a number of steps to reduce the cost of capital, especially for small and medium-sized businesses, stated Prime Minister Denys Shmyhal in a statement at the Kyiv International Economic Forum on October 7.

    "The presidential program "5-7-9" has proven its efficiency and helped revive the market. To date, 24.5 thousand loans have been issued for a total of almost UAH 65 billion," the Head of Government noted.

    The Prime Minister accentuated that currently, the state is investing heavily in infrastructure construction, thereby reviving business activities in this area as well.

    "Large-scale construction creates a good multiplier, creates new jobs and fuels the economy. This helped us avoid the slump in the economy at 12% during the crisis, as had been predicted by international experts," stressed Denys Shmyhal.

    In addition, the PM highlighted the need to develop the stock market and the funded pension system. The Prime Minister called the lack of these things during the 30 years of independence an economic crime against Ukraine.

    "The Government, in synergy with the Verkhovna Rada, is developing ways to introduce a funded pension system without additional burden on people and businesses," the Head of Government stressed.

    Moreover, according to the Prime Minister, a Memorandum was signed with the European Bank for Reconstruction and Development, USAID, the American Chamber of Commerce on the development of stock market infrastructure, which will promote investment development in the country.

    Ukraine undertakes a number of measures to reduce the capital value for small and medium-sized businesses, says Denys Shmyhal Ukraine undertakes a number of measures to reduce the capital value for small and medium-sized businesses, says Denys Shmyhal