Despite russia’s full-scale aggression, Ukraine’s commitment to reform and national transformation remains unwavering. This was emphasised by Prime Minister Denys Shmyhal at the opening of the OECD’s regular ministerial-level meeting, Eurasia Week 2023.
“We are moving forward. We have set ourselves ambitious goals, including Ukraine’s membership in the European Union and the OECD in the coming years,” the Head of Government said.
The Prime Minister stressed that over the past 20 months both Ukraine and its economy had shown an incredible capacity to adapt. Despite all the difficulties and challenges, Ukraine has managed to: maintain macroeconomic stability; keep inflation under control; overcome a large-scale production shutdown and the consequences of labour outflows; rebuild logistical flows in the face of the blockade of Black Sea ports; launch a rapid reconstruction programme; achieve candidate status for EU membership; establish a productive dialogue with international financial institutions and obtain a $15.6-billion Extended Fund Facility from the IMF.
“We are grateful to our partners for their financial support, which has helped to maintain Ukraine’s economic and financial stability and to finance priority budget expenditures. At the same time, with the help of our partners, we are preparing a reform matrix – comprehensive analytical data on all the reform commitments that Ukraine has undertaken. This is a clear roadmap that will bring together the key reforms of the Ukrainian Government and will also include recommendations and proposals from our international partners,” said Denys Shmyhal.
According to the Prime Minister, Ukraine is guided by the IMF benchmarks, recommendations of the European Commission, developments with the World Bank and the OECD and the reform plan as part of the EU’s 4-year Ukraine Facility initiative, which is currently being developed.
Denys Shmyhal stressed that the reform matrix would cover all areas, from the economy and digitalisation to the rule of law and educational reform.
“Anti-corruption initiatives will play a very important role. Our focus is not only on putting corrupt officials in jail, but first and foremost on creating a system in which there is no possibility of corruption. This will be possible thanks to the digitalisation of public services, deregulation of business and a reduced role of the state in the economy,” the Head of Government noted.
According to the Prime Minister, Ukraine is also involving the private sector, which plays a key role in the plans to revive the economy and implement the recovery programme.
“Despite the war, we have started to rebuild. We have identified priority sectors, created a management infrastructure, prepared transparent mechanisms and engaged our international partners. The 3rd Rapid Damage and Needs Assessment for Ukraine is currently being prepared. This will be an updated assessment of the consequences of the russian invasion for the period from February 24, 2022 to December 31, 2023,” said Denys Shmyhal.
The Prime Minister thanked the OECD and its member states for their solidarity with the Ukrainian people and support at various levels. (Government portal/Business World Magazine)
