Support for SMEs: PM Shmyhal hopes to work more closely with Parliament

"In the future, we hope to work more closely with Parliament, in particular on supporting our legislative initiatives on small and medium-sized businesses," the Prime Minister said at a meeting to discuss anti-crisis initiatives to support SMEs, the Government portal informs.

The Head of Government stressed that the support of entrepreneurs is essential because small and medium-sized businesses are the basis of the country's well-being not only in the time of challenges but in the future as well.

"I understand that due to the corona crisis, small and medium-sized businesses found themselves in a difficult situation. And our support is extremely important. After all, this is the creation and preservation of a significant number of jobs, which is the key to economic growth. It is the entrepreneurs who form the middle class, which is the driving force of positive change in all areas," said Denys Shmyhal.

According to him, the Government has already started implementing such support programs. These are, in particular, the updated lending program "5-7-9" and the "New Money" program focused on preserving existing and creating new jobs.

Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko stressed that the development of small and medium-sized businesses will become the basis for the development of Ukraine's economy.

"Stimulation of small and medium business will be implemented through adaptive quarantine, anti-crisis measures and support tools. We envisage for SMEs greater access to finance, easier access to markets and less regulation," the official said, adding that the long-term development strategy of the state will be based on promoting the development of the small and medium business segment.

On the outcomes of the meeting, the Prime Minister instructed the Ministry of Economy, Trade and Agriculture to form a working group to support small and medium-sized businesses, which will comprise members of the Government, MPs of Ukraine, representatives of the Economic Development Council within the Cabinet of Ministers and the think tank.

ol