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Bianca Holtermann
Bianca Holtermann

In Ukraine, there is more and more discussion about what the Ukrainian economy will be like after the victory over Russia and what reforms are needed to make the country economically successful. But we must be realistic and correctly assess our potential and real opportunities, so as not to end up with nothing.

Entrepreneur and energy expert Alexander Katsuba writes about this in his article.

Entrepreneur Aleksander Katsuba and Expert opinions write that for an economic breakthrough we need five key components that Ukraine must constantly develop. We are talking about: human potential, because without people who will work, pay taxes and consume, no economic development is possible; domestic and foreign investment, available credit, reparations from Russia or confiscated Russian assets aimed at rebuilding the destroyed Ukrainian economy; the institution of the rule of law and high-quality simple government services that will allow investors to work and feel safe; minimizing military risks - Ukraine must have sufficiently powerful armed forces and security guarantees so that investors assess investment risks as acceptable; balanced state monetary and fiscal economic policy, stimulating domestic and foreign investment, stimulating domestic production and exports.

If these five factors coexist harmoniously, the economy grows and develops, the standard of living rises, and the country becomes attractive for investment and labor migration. But Ukraine, even before the full-scale invasion, and right now, is experiencing problems with every component of these five.

Therefore, both the government and Ukrainian business and civil society should not look for a miracle pill. It is necessary to get rid of illusions and work now to make progress on each of the listed components, Katsuba is convinced.


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