Economic strategy is the idea of investment, creating four markets and jobs, creating innovation and bringing new technologies. This was stated by the Minister of Economics Tymofiy mylovanov yesterday during the presentation of the government’s strategy of Ukraine’s economic growth.
“the Main objective of the government’s “Economic strategy: growth through investment” in the economic sphere — to provide citizens with a legal job with a decent wage and to create the conditions for successful business. For this, the Government has set an ambitious goal: within 5 years, increase GDP by 40%, create over a million jobs and attract $50 billion of foreign direct investment,” said Milovanov.
the Official noted that in Ukraine the degree of wear of the enterprises reaches 60%, while in neighbouring Slovakia a little more than 35%, given that neconventionale the domestic economy, investments can have very high returns. “For us to catch up with Belarus, Slovakia, we need $ 100 billion investment over the next 50 years,” said Milovanov.
“We’re talking about investment in fixed assets and technology, and human capital. Until 2024, Ukraine should move to the top group index of human capital,” — said a government official.
To increase investment, according to the vision of the Strategy, the government wants to focus efforts on the creation of efficient markets as factors of production (land, capital, labour) and the final product, including in those markets where the government is a monopolist.
“Already demonopolized market of alcohol. The next step — the creation of competitive markets with domestic universities and medical institutionth. Further — markets freight and passenger rail transportation and energy,” says Tymofiy mylovanov.
the Cabinet also will focus on investment initiatives. “First, we are talking about public investment in infrastructure. The efficiency of domestic business is very much affected by “bottlenecks” in the transport sector. In this direction, among the priorities — the roads, access Railways to ports, railway electrification, development of river transport, in particular, modernization of the Dnieper cascade”, — said the Minister.
According to Milovanov, to the investment initiatives also belongs to the attraction of private investors to Finance infrastructure projects through the mechanism of public-private partnerships and, in particular, concessions.
“the Government has already conducted a successful concession tenders in two black sea ports of Olbia and Kherson. On turn — other ports, pilot projects DFS in airports, the study train stations for the start of the pilots in their concessions,” explains Milovanov.
Another focus of attracting private investment is the privatization of state enterprises and banks. Note that in the course of this year the government plans through the state property Fund to sell more than 300 small-scale privatization and 5 large enterprises. For the latter, investors are offered additional incentives — tax holidays: exemption from income tax for 5 years with an investment of $10 million.
At the same time, the investor should execute investment environment: to preserve the profile of the companies included in the chain of high-tech added value.
“For large investmentindigenous projects of over $100 million, the government plans to introduce a special programme for the coordination, maintenance and support of investors,” — adds the Minister.
the economy Ministry aims to further develop industrial parks. Now in Ukraine in the presence of 43 the Park, of which seven have been created over the last year. “Over the next five years, the proposed full settlement of all parks (now 12) and the involvement of management companies and the participants. Ambitious goal — it is only through these parks to attract $5 billion investment, which will create 50-100 thousand jobs,” said Milovanov.
Another area of investment initiatives is to stimulate Bank lending and insurance. In particular, and support for micro and small businesses through the program Affordable loans 5-7-9%, and the system of insurance of export activities, and startup programs of mortgage lending.
“a Key focus will be on strengthening the rule of law, in particular through the establishment of mechanisms for verification through the registries, the establishment of a system of commercial arbitration, and strengthening performance discipline in the court decisions and the like”, — stated in the Strategy.
Implemented efficient system of public financial management, such as new customs and tax, financial monitoring and financial control.
the ContextZelensky: I always wanted to be a star in the United States (CNN)CNN19.02.2020 Aggravation in the East of Ukraine: the onset of the LC or diversion The APU? (Country)Country.ua18.02.2020 Komorowski: the results Zelensky want to cry (Gordon)Гордон18.02.2020 Separate element of ensuring a favorable business climate should the tax system, where there is the potential for reducing taxes on investments.
“Together, the drivers of investment and growth needs to achieve 40% growth. In order for this ambitious programme of growth through investment to work, we need to keep pace. The President, Cabinet, Parliament and local authorities should continue to work as a unified team,” said Milovanov.
meanwhile, the economic experts believe that in fact the financial sector and the priorities of the national Bank needed serious correction. This writes Anatoly Amelin, on his page in Facebook. “The growth of the economy by 40%. $50 billion investment? forget… With all due respect to the current management of the national Bank, I and colleagues from the UIF believe that the financial sector and the priorities of the national Bank needed serious correction,” — said the expert.
1. The economy grows by 3-3. 5% per year, with the growth of the world economy by nearly 4% and growth in developing countries, 5% -8%.
the Main reason is the lack of resources for economic development.
the Ukrainian economy negociation and neconventionala.
2. The level of coverage of Bank loans of GDP:
Ukraine: 23,5% (in reality about 11%);
the Level of monetization of economy in Ukraine has fallen over 5 years 40%
Czech Republic: 80%;
3. Ukrainian manufacturer from the start to lose the competition to Polish, if you produce similar products.
Polish your competitiont take a loan for 5 years at 5% per annum. In Ukraine you’ll get in 3 years by 20%.
In the end, the cost of Ukrainian products will be more expensive Polish at least 20% due to the cost of credit.
4. The Central Bank of different countries is a key KPI — macroeconomic stability, promoting economic development, stimulating the creation of jobs.
In Ukraine, a key KPI — inflation targeting.
5. Inflation targeting is achieved by sterilization of the money supply. Look at the dynamics of placing Deposit certificates of the NBU and the rate.
Banks more profitable to buy desertificat NBU, than to lend to business.
the national Bank in one person — the regulator of banks (defines investment instruments and the reserves for them), on the other hand, he macroregulatory that creates a clear conflict of interest.
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