Ukraine is doing everything necessary to continue its cooperation with the International Monetary Fund and maintain its economic growth, as stated by President Volodymyr Zelenskyy.
During a speech at the RE: THINK. Invest in Ukraine Forum in Mariupol, the Head of State noted the productive and resolute work of the new Verkhovna Rada, which has passed over 40 laws in just two months, some of which had been long-awaited by Ukraine’s international partners and business. In particular, it is the law on concession that unblocks significant investments in Ukraine's infrastructure.
“We reduce the role of the state in the economy where it is not effective. Privatization, deregulation, "A State in a Smartphone" - all these initiatives will allow business to spread wings and breathe freely," he said.
"Today, we are doing everything necessary to continue our cooperation with the International Monetary Fund and maintain economic growth," the President stressed.
The land reform is also among the priorities of the Ukrainian authorities. "The Government has submitted a bill on the introduction of the free land market that will give impetus to the agro-industrial sector, attract investment and modern technologies," the Head of State said.
Responding to the criticism sometimes heard concerning the authorities for the hasty decision-making and the so-called turbo mode, Volodymyr Zelenskyy said that it was better to move fast, even with minor mistakes that can be corrected, than to tread water, which actually means moving backwards.
“We are not going to stop. We continue the European integration and harmonization of the Ukrainian legislation with the European legislation. We will implement a profound tax reform that will take effect in 2021. Eliminate undue pressure on business by law enforcers. I personally promise personal protection to every investor,” the Head of State emphasized.
The President expressed confidence that the country was on the brink of economic breakthrough, as evidenced by key indicators.
“In the second quarter, we showed 4.6% of real GDP growth. International organizations have substantially improved their forecasts for Ukraine's economic growth next year. Ukraine climbed 7 positions up in the Doing Business ranking. International agencies upgraded our credit rating and changed our forecast to stable and positive,” Volodymyr Zelenskyy noted.
He also noted that the National Bank of Ukraine had reduced the accounting rate by 1% at once, which indicated a slowdown in inflation and would help reduce the cost of borrowing.
“In the near future, we plan to hold a large-scale privatization of dozens of attractive investment objects. We need to create effective rules of operation in the energy markets and simplify business operations by removing restrictions in the areas of labor relations and capital flow,” the Head of State emphasized.