The recovery of Ukraine will be a booster for the European economy

The recovery of Ukraine will be a booster for the European economy

According to him, Europe should be self-sufficient in all spheres – from security to energy, and Ukraine can help in this.

Shmyhal told how Ukraine can help the European economy / photo UNIAN

Ukraine can help Europe become self-sufficient in all spheres, and the restoration of Ukraine will be a booster for Europe’s economy.

About this during the opening of the 5th Ukrainian-German economic forum stated Prime Minister of Ukraine Denys Shmyhal.

“Europe is self-sufficient in all areas – from security to energy. And Ukraine can help with this. Our great recovery will be a booster for the European economy. A booster, a springboard, an accelerator, a catalyst. You can call it whatever you want, but I am convinced of it.” – he said.

He reminded that the Recovery Plan of Ukraine is estimated at 750 billion dollars, and its implementation will also help the European economy.

“The plan for the recovery of Ukraine is not about how to turn everything back, it is about how to move forward together. And in the process of our transformation, absolutely incredible opportunities will open up for European business. In energy, the agricultural sector, the military-industrial complex, IT, in all other areas, Ukraine can become a platform for placing European production close to the sales market. For this, we have qualified specialists, developed logistics, powerful energy, and natural resources,” he said.

Shmyhal noted that the priorities for development are the military-industrial complex, energy, digital technologies, the agricultural sector and the implementation of the green deal.

Ukraine recovery plan

As UNIAN reported, earlier President Volodymyr Zelenskyi emphasized that the reconstruction of Ukraine should become the largest economic project in Europe.

On July 4-5, the 5th international conference on reforms in Ukraine (URC-2022) was held in Lugano, Switzerland, at which the country’s recovery plan was presented.

“Ukraine’s recovery plan is divided into three key stages. The first is to restore here and now what is possible and what is critical for people’s lives. This work is already underway, we are financing it from the budget of Ukraine. The second part is quick recovery – the number of destroyed buildings objects, even basic infrastructure, is huge. Immediately after the end of hostilities and the victory of Ukraine, thousands of reconstruction projects will need to be implemented. The third stage of this plan is a long-term transformation, it concerns all areas, starting from education, medicine and ending with a green transition and a new military industrial complex. People, economy, infrastructure – these are the three foundations of Ukraine’s recovery,” Shmyhal said.

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