Deputy Minister of Finance of Ukraine Oleksandr Kava attended the annual Tatra Summit, which took place in Slovakia on 4-6 October. At the summit, leading politicians, business leaders and experts discussed the challenges and opportunities for economic development in Central and Eastern Europe. One of the key issues at the meeting was the economic stability and recovery of Ukraine, which became the central topic of discussion.
“Despite the martial law, Ukraine is making every effort to ensure economic recovery. It is thanks to the stable operation of the economy that we are able to finance the security sector and defence, including the Armed Forces. The main sources of defence funding are tax revenues, while international assistance is used for other budgetary needs,” said Oleksandr Kava.
In the context of global changes, the role of each country’s economy remains key to its development and security. Therefore, to reach the level of economic development of its Central European neighbours, Ukraine needs to ensure higher growth rates. A particularly important aspect is the diversification of sales markets and an increase in export volumes.
The panel discussions also focused on the development of the military-tech sector, digitalisation and innovation, which should form the basis of Ukraine’s future economic recovery. The participants stressed that the support of partners, including investments in new technologies and markets, was key to the sustainable development of the economy in the long term.