Ukraine plans to return economy to pre-war level in four years

Ukraine plans to return economy to pre-war level in four years

The Ministry of Economy plans to return the economy to the pre-war level and exceed this figure within four years.

Deputy Minister of Economy Oleksii Sobolev stated this in an interview with Ukrinform.

"We plan to return the economy to pre-war levels in four years and add more growth. During the first year of the war, the country's economy shrank by 30%, so we have to exceed this figure in four years. We have two key prerequisites: security and accession to NATO and integration with the EU. In addition, economic growth is directly related to the factor of refugees returning to Ukraine - the more people return, the higher the economic growth will be," the deputy minister noted.

Sobolev said that a very large part of this plan is the green transition. In 2026, the CBAM (Carbon Border Adjustment Mechanism) regulation will come into force in the EU, which should, among other things, decarbonize the European steel sector, creating an economic opportunity for Ukraine.

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"Ukraine can become a leader in green metallurgy, especially in green steel, using its unique location, rich resources, availability of raw materials and strategic proximity to Europe. In the next four years, the volume of investments for the industry could amount to EUR 6-12 billion. This is not only about our ambitions, it also complements the overall European decarbonization strategy," Sobolev stated.

As reported, the Ministry of Economy outlined the prospects and factors for economic growth this year and next, considering the explosion of Kakhovka dam and Russia's withdrawal from the grain deal.

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