• Українською
  • Government presents the Program to stimulate the economy to overcome COVID-19 aftereffects
    Ministry of Economic Development, Trade and Agriculture of Ukraine, posted 27 May 2020 14:00

    Today, May 27, at the Government meeting, the State Program aimed to stimulate the economy to overcome the negative impact of COVID-19 epidemic was presented. The purpose of the Program is to introduce a comprehensive system of measures for stabilization and sustainable development of Ukraine's economy, increase employment by maintaining existing and stimulating the creation of new jobs.

    "The program provides for the implementation of about 230 measures, many of which have already been implemented. This is, in fact, a roadmap formed on the proposals of ministries, regions, think tanks, associations, businesses and leading experts. The initiatives are aimed at improving access to finance, access to markets, improving regulation, promoting modernization, sustainable development of industries and combating unemployment," said Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko.

    The program contains 3 sections. Thus, Section 1 contains short-term initiatives in response to COVID-19: ensuring the safe functioning of the economy; support of branches of economy and protection of their goods, works and/or services from their import alternatives supplied to the territory of Ukraine, taking into account international agreements and obligations of Ukraine.

    To support the economy, measures were developed for 6 sectors: industry, agriculture, energy, transport and infrastructure, information and communication technologies, services domain (trade, hotels and restaurants, education, creative industries, personal services).

    The support for sectors of the economy should be accompanied by the implementation of general functional measures that would strengthen sectoral initiatives. Functional areas include SMEs support, stimulation of international trade, investment attraction, innovation development, labor market development, reasonable regulation of economic activity.

    According to the decision taken at the Government session, the full version of the Program will be published after finalization within 3 days.