Ukraine needs $50 bln in investment in next 5-10 years – Mylovanov

Ukraine needs $50 bln in investment in next 5-10 years – Mylovanov

Depreciation of fixed assets in Ukraine is on average 60%, while our neighbors have 35%, therefore, in order to improve the situation, Ukraine needs to attract about USD 50 billion during the next 5-10 years.

Minister of Economic Development, Trade and Agriculture Tymofiy Mylovanov said this during the presentation of the economic growth strategy on Monday, an Ukrinform correspondent reports.

"The depreciation of our fixed assets is 60%, in order to increase them to 50% or 45%, we need about USD 50 billion in investment in the next 5-10 years," the minister said.

He noted that the depreciation of fixed assets in our neighboring countries made up about 35-38%.

"The agricultural sector is the only one where our level of modernization of production corresponds to the level of our neighbors," Mylovanov said.

As Ukrinform reported, on October 4, 2019, the Verkhovna Rada approved the Government’s Action Program, which, in particular, envisages that within five years a million new jobs will be created in Ukraine and foreign direct investment worth USD 50 billion will be attracted in the country's economy.


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