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Source: Government of Ukraine

On Friday, November 6, the presentation of the Economic Audit of the Сountry and Vectors of Economic Development until 2030 took place. The event was attended by President of Ukraine Volodymyr Zelenskyy, Prime Minister Denys Shmyhal, Speaker of the Verkhovna Rada Dmytro Razumkov, First Deputy Chairman of the Verkhovna Rada Ruslan Stefanchuk, representatives of businesses, scientists and others.

The country’s economic audit was called RE: think, i.e. a rethinking of Ukraine’s potential.

The President of Ukraine noted that the state audit is a way to correct answers to the questions of Ukrainians. “For the first time, a comprehensive analysis of the state of the country was made to understand – where exactly and what kinds of mistakes were made over these years,” he stressed.

The President also noted the importance of the main vectors of development of the Ukrainian economy until 2030.

“We will clearly understand where and why our economy will demonstrate progress. In order to constantly grow, realize existing potential and create new, breakthrough ideas. Instead of catching up to be a few steps ahead,” said the President of Ukraine.

According to the Prime Minister, these important documents are the starting point in the development of the National Economic Strategy until 2030. He added that back in the spring, realizing the challenges facing the country, the President set the task to the Government to determine with what achievements Ukraine would enter the new decade.

“Without an analysis of the current situation, we cannot realistically set goals for the coming years. The control question was – have we realized our potential, what are the results of governing the country in previous years, what performance we demonstrate compared to successful countries in the region? And today we already have a clear answer: US$ 1 trillion in GDP in 10 years. This is the untapped potential of the country,” said Denys Shmyhal during the presentation.

The Prime Minister stressed that Ukraine had lost US$ 1 trillion due to constant changes in vectors, incomplete reforms and the lack of a long-term economic strategy. According to Denys Shmyhal, the goal of the state is to realize the potential of the Ukrainian economy and make Ukraine successful.

During the presentation, the Prime Minister covered every key aspect where Ukraine did not realize its potential. In particular, in the land sector, in the field of subsoil and water resources use, in the forest industry, in international trade and transit, in the technological and investment spheres, etc.

“The conducted economic audit is an “account “of Ukraine for the years of ill-considered economic policy, the lack of completed reforms and the unity of state institutions in the vision of the country’s development. Once we remove the reasons that led to such estimates, we can count on doubling GDP per capita. Is it possible to achieve such an increase? Of course. And the world experience is a proof of that,” said Denys Shmyhal.

According to the Prime Minister, many countries have managed to double their GDP in 10 years, with having a clear strategy and unity in the work of the national team.

During the presentation, Denys Shmyhal named some of the 30 priority vectors identified by the Government by 2030. According to him, these are the starting points for a broad dialogue with society. These include reducing the state’s share in the economy, developing the financial sector, reducing the regulatory burden on business, significant increasing the volumes of exploration and production of domestic minerals, developing infrastructure in the agricultural sector, favorable tax and legal regimes for innovation and research companies, digital economy, Ukraine’s reputation in the world and strengthening trade diplomacy, creating an economic basis for the development of education, medicine, culture and social services.

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