On September 26, 2022, the Chamber held an online meeting with Yulia Svyrydenko, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine.
The meeting was focused on the Government’s key priorities for Q4 2022, Advantage Ukraine platform peculiarities, the procedure of extending the reservation for previously booked employees, “e-business trip” implementation prospects, and other acute issues for the business community.
Here are the key takeaways:
- Economic forecast:
- GDP decline – 33-35%, and the level of unemployment rate – 28-30% by the end of 2022;
- two scenarios of economic growth for 2023: conservative – 4%; optimistic – 15%;
- state budget deficit in 2023 – 20% of GDP; the Government plans to attract $37 billion to finance it.
- Foreign direct investment attraction is one of the key priorities for the Ministry. Advantage Ukraine is the brand-new investment initiative of the Government of Ukraine. The Ministry of Economy invites companies to check the investment menu in 10 directions and join the greatest investment opportunity in Europe since World War II.
- IMF support for Ukraine – the Government is working on a program together with the IMF team, and it’s a powerful sign for Ukraine and foreign investors.
- As a follow-up to the meeting with the Multilateral Investment Guarantee Agency (MIGA) on the launch of the mechanism for investment insurance during hostilities – the pilot agreement is currently worth $30 million, and the expected amount for 2023 is about $1 billion.
- E-business trip – resolution will be passed for discussion one more time as it’s crucial for business and Ukraine’s economy.
- The reservation procedure for previously booked employees is extended for two months. Draft Law #7687 regarding reservation of conscripts for the period of mobilization and martial law is expected to be adopted within a month.
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