Advisor to the President of Ukraine on Economics Oleg Ustenko held a webinar with business representatives, during which he reported that the authorities have a plan of measures to stimulate the economy.
This was reported by the press service of the head of state. “They will be implemented in a phased manner after passing the peak of disease,” he said.
According to Ustenko, one way to overcoming unemployment is the encouragement of small business and individual entrepreneurship. “Stimulating growth in the number of jobs more efficiently than the payment of unemployment assistance to these people,” he said.
Also Ustenko said about the expectations of positive dynamics in agriculture. Therefore, he explained, the budget has left most of the grants and payments of state support for farmers.
“This is extremely important, especially in the context of post-crisis recovery and further economic development of the country”, — said the adviser. The economist also explained that budget sequestration was necessary because the deficit could reach 12% of GDP.
“A high percentage of deficit in the conditions of withdrawal of capital from emerging markets, which include Ukraine, is not subject to financing and funding. The authorities managed to reduce it to prevent the risks of a rapid unwinding of inflation.
The changes in the budget deficit will be much less,” — said the adviser Zelensky. The adviser also pointed out the vital importance of a new IMF program. “The new programme with the IMF will help the country to partially cover the budget deficit and unlocks the possibility of entering the foreign markets borrowing capital”, — said Ustenko.