In the midst of the Russian war of aggression, Ukraine must ensure economic stability and, above all, create incentives for private investment. The EU and international partners such as Germany can also play an important role with regard to the resilience of the Ukrainian economy. In particular, greater integration into the EU internal market would strengthen Ukraine's important exports such, as agricultural products and raw materials. The Ukraine Facility adopted by the European Union, which provides for aid payments totalling USD 50 billion until 2027, can provide financial support for reform processes and the budget, but is nowhere near enough to cover the costs of reconstruction, which the World Bank estimated at USD 486 billion at the end of last year. At the same time, the reconstruction process based on the “build back better” principle brings with it the opportunity to penetrate new sectors of the economy and realise a sustainable transformation in the energy sector.
How can the EU support Ukraine with regard to its economic resilience? How can incentives for private investment in Ukraine be created? How can the economy remain resilient and be boosted at the same time and what role does EU accession play in this?
We discuss these and other questions with our guest:
Garry Polushkin is a consultant and country coordinator Ukraine of the German Economic Team for Berlin Economics.
Moderator: Nataliya Pryhornytska, political scientist and podcast host.
Episode #24 of UkraineMEMO is also available here:
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With its podcast “UkraineMEMO: Interviews, Analysis, Policy Advice”, IEP presents new perspectives on Ukraine. With guests from Germany and Ukraine, Ljudmyla Melnyk and Nataliya Pryhornytska discuss recent developments and long-term trends in the areas of Ukrainian politics, economy and society and thus provide an insight into events on the ground that are moving the country. Ukraine's relationship with Germany and the EU is always kept in mind.
As the “UA Transformation Lab” project funded by the Federal Foreign Office ends at the end of September 2024, this was the last episode of UkraineMEMO for the time being.
Copyright Photo Poluschkin: Annette Koroll
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