Kyiv hosted the discussion titled Reforms Matrix: Strengthening the Foundations of Economic Growth for EU Accession.
The event aims to bring together representatives from Government, international partners, experts, business leaders and civil society organizations to discuss key issues related to Ukraine’s economic development strategy.
Organized with the participation of the World Bank and the European Union and with the support of KSE, the Recovery and Reform Delivery Office of the Cabinet of Ministers (with backing from EBRD Ukraine MDA).
Discussions centered on Ukraine’s reform progress toward European integration, efforts to support macroeconomic stability and further economic growth.
The participants also reviewed the latest update of the Reform Matrix – an interactive tool designed to track recommendations and cooperation requirements with international partners.
The opening ceremony was addressed by the Prime Minister of Ukraine Denys Shmyhal and the World Bank’s Managing Director of Operations Anna Bjerde. The topics discussed included Ukraine’s implementation of the Reform Matrix, progress towards European integration and economic strengthening, and the role of international support in the implementation of reforms.
The Ministry of Finance was represented by Minister of Finance Sergii Marchenko and First Deputy Minister of Finance Denys Uliutin.
Sergii Marchenko together with Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine – Minister of Justice of Ukraine Olha Stefanishyna, Vice President of the Europe and Central Asia Region at the World Bank Antonella Bassani and EU Ambassador to Ukraine Katarina Mathernova discussed the progress of reforms in Ukraine, the performance of European integration commitments and the impact of reforms on economic growth.
The Reform Matrix was highlighted as an effective tool that ensured transparency and optimization of work on the terms of cooperation with international partners.
“The Reform Matrix solves three key tasks: it allows us to clearly define those responsible, deadlines, and stages of implementation of measures; supports consistent and systematic work on reforms; and assesses the impact of policies on the Ukrainian economy. This all contributes to the effective work on the terms of cooperation programs with partners, demonstrating the transparency of the Government of Ukraine on this path,” said Sergii Marchenko.
As for the measures that will stimulate economic growth and promote European integration, the Minister of Finance mentioned further development of innovations, the market of critical resources and military power, the defense industry: “These are the areas in which Ukraine already has advantages. Their further development will support the country’s economic recovery and become a competitive strength in the EU market.”
During the discussion panel on macroeconomic and fiscal stability, Denys Uliutin noted that the sustainability of public finances was an integral part of Ukraine’s macroeconomic stability, economic development and European integration. In this context, he spoke about measures to improve budget planning in the face of uncertainty.
“Today, even in the context of the full-scale invasion of russia, the Ministry of Finance is returning to the best practices of the budget process, focusing on such key areas as medium-term budget planning and fiscal risk management. In addition, in the State Budget for 2025, the Ministry of Finance is introducing a new mechanism for public investment management. This approach aims to systematize all projects in accordance with the priorities of recovery and development, which is especially important in the context of limited resources,” the First Deputy Minister of Finance said.
Denys Uliutin also emphasized that the reform of the public finance management system was one of the areas the Ministry of Finance was working on to bring Ukrainian policies closer to the EU acquis.
The discussion was also joined by representatives of the National Bank of Ukraine, the European Commission, the World Bank and the International Monetary Fund. (Government portal)