Zelensky: Ukraine's potential can ensure $1T GDP

Zelensky: Ukraine's potential can ensure $1T GDP

Ukraine has sufficient potential to increase its gross domestic product (GDP) to USD 1 trillion.

President Volodymyr Zelensky stated this during a speech in the Verkhovna Rada on Constitution Day, an Ukrinform correspondent reports.

"The specific goal for Ukraine's GDP is a trillion dollars. Yes, a trillion dollars is a very, very high bar, and it seems to be unrealistic. But Ukraine's potential can provide it," the head of state said.

Read also: IMF upgrades forecast for Ukraine's GDP growth in 2023 to 1-3%

He also set a task to significantly increase the level of labor remuneration.

"Ukraine will abandon the idea that Ukrainian labor should be cheap. The cheap labor of our people was supposed to be a competitive advantage of Ukraine. We aim to achieve a level of wages that could be determined by the formula: neighbors in the European Union plus 30 percent. After the victory, Ukraine will rely primarily on skilled labor, and therefore on education," Zelensky said.

Read also: EU's, Ukraine's economies show resilience amid Russia's war - EC's assessment

Earlier, he proposed the main guidelines for the future Ukrainian doctrine for national discussion, including the philosophy of Ukraine's victory, the global nature of Ukrainian security, the policy of heroes, the policy of justice, and transformation in 10 years.

"We have to go through a difficult but important path that other nations have been overcoming for decades. Ukraine must direct the world's trust to the development of Ukraine and all aspects of life in our country," the President emphasized.

As reported, First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko said at Ukraine Recovery Conference in London that Ukraine aims to increase its gross domestic product (GDP) to USD 1 trillion in ten years.

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