Oleg Ustenko, Adviser to the President of Ukraine on Economic Issues, predicts that in 2021 the Ukrainian economy will begin to recover due to positive trends in foreign markets and the NBU's monetary policy. Growth can be fueled by Ukraine's homework to improve the investment climate and steps to encourage domestic investment.
“Speaking generally about 2021, we expect that it will be a year of economic growth, a year of gradual recovery of the entire global economy, and, of course, the Ukrainian economy,” he said in an interview with one of the Ukrainian media.
The Adviser to the Head of State stressed that Ukraine largely depends on the situation on foreign markets, and any changes there immediately affect all the so-called small open economies, which include the Ukrainian one.
“But the expectation for 2021 is positive,” Oleg Ustenko said.
According to him, in recent months, prices for those raw materials that Ukraine exports, in particular metals and agricultural products, have been growing in foreign markets, and there are expectations that this situation will continue in the future.
Secondly, as Oleg Ustenko noted, the situation in the world financial markets has also improved.
“After the end of the election campaign in the United States and until the recent inauguration of the 46th US President Joe Biden, all stock markets began to grow, which means that both creditors and investors began to be active. Overall, international markets have grown more than 15% during this time. This means that investors who previously looked for "safe havens" are now starting to look for investment opportunities. This means that Ukraine, which is in the group of countries with emerging markets, can already actively compete for resources and count on a global investment, ”he said.
At the same time, our state must seriously approach its "homework", in particular, to create a high-quality investment climate, protect property rights, improve the judicial system, etc.