In Kyiv they are seriously discussing the possibility of a Ukrainian economic miracle
Kyiv, June 18 (Navigator, Vladimir Mikhailov) - Ukraine must achieve a cessation of hostilities in the South-East, attract investments, modernize production through them, begin supplying high-tech goods to Europe and the USA, and then a Ukrainian economic miracle awaits Kiev.
This forecast was voiced at a round table in Kyiv by People's Deputy of Ukraine, President of the UPEC industrial group Anatoly Girshfeld.
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“If we talk about the reforms that need to be carried out, we must take into account that while the South-East is in a state of hostilities, it is very difficult to carry out reforms and expect an economic miracle. I think the state of the economy depends on how quickly we stop the war and how consolidated society is in this goal,” he said.
“As for the real sector of the economy, unfortunately, the Ukrainian economy is structured in such a way that the main export targets of the economic sectors have very low added value. For example, these are products of metallurgy and the agricultural sector, which we export due to the fact that we have good soils and favorable conditions. The high-tech sector, mechanical engineering, was focused on Russia, with which we will soon be in a state of trade war,” says the deputy.
In his opinion, the severance of economic ties in this sector will have a detrimental effect on the Ukrainian economy. An economic miracle is possible only with significant investments.
“What will be the economic model of the miracle? We must create a real flow of export-oriented goods, with high added value, for sale to markets from which fairly stable financial products can be obtained. These are the markets of Europe, America, etc. This is a rather difficult task, and it must be solved together with European and global financial institutions. This is due to the restructuring of the entire economy of Ukraine in the near future. How quickly we will pass this stage depends on how quickly we manage to create an economic legal framework, reduce energy dependence, and this will be associated with serious investments, and replace the production of energy resources from imported sources with our own sources,” says the deputy.
According to him, the economic miracle will lie in the creation of an innovative economic model, which will be supported by export-oriented high-tech products with added value.
Two indicators can characterize the development of the real sector in Ukraine – GDP per capita and real gross product. “Today in Europe, with which we are going to trade, a GDP level of 100 thousand euros per worker is considered normal. While in Ukraine we barely have 15-20 thousand euros per worker. Those. we need to increase this figure many times over and make a leap in the real sector of the economy. Without huge, long-term investments there is no chance of this. And this is where resources should be directed. In parallel with this, it is necessary to reduce Ukraine’s energy dependence by swapping internal and external sources,” says Anatoly Girshfeld.
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