Ukraine's Prime Minister names 6 industries that will become basis of Ukraine's economy after war
The military-industrial complex, agriculture, energy, IT, construction and engineering will become the key sectors of Ukraine's economy after the war.
Source: Prime Minister Denys Shmyhal in his speech at the Kyiv International Economic Forum
Quote: "Military-industrial complex. We are growing in this sector. We have a large state order. The Ministry of Defence will spend UAH 400 billion (US$10.9 billion) on procurement this year and next year. This year, an additional UAH 40 billion (US$1.09 billion) has been allocated to the purchase of drones," said Denys Shmyhal.
As he said, the agricultural sector accounts for the main share of Ukraine’s foreign exchange earnings. He emphasised that recycling should become a key factor in GDP growth in the future.
Quote: "Energy. We can be Europe's gas safe. Today, European companies already store more than 3 billion cubic metres of gas in our warehouses. We will be part of the European energy market. Together with Europe and the United States, we are focusing on hydrogen production in the future, which will create additional opportunities." Shmyhal noted.
IT is also one of the areas that is showing great growth.
Construction will be an important sector because, after the end of the war, Ukraine will restore all housing and infrastructure.
Quote: "The sixth industry is our mechanical engineering. We will provide incentives from the budget and increase orders, not only for the security and defence sector but also for the civilian sector, for the needs of economic recovery and functioning," the head of government emphasised.
Shmyhal also noted that in 2023, many of the negative economic trends that emerged due to Russia's full-scale aggression were reversed.
"Inflation has slowed down from 26% to 8-9%. We have record international reserves of about US$40 billion. The deficit has remained at the level of 20%, and we know how to finance it next year," the head of government noted.
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