Pritzker Highlights 5 Fundamental Changes to Ukraine's Economic Recovery

Pritzker identified 5 fundamental changes in Ukraine's economic recovery Irina Martsiyash

What important changes in Ukraine's economic recovery did Pritzker name/Collage 24 Kanal/Photo Getty Images (Photo illustrative)

The United States Special Representative for Ukraine's Economic Recovery named the conditions that, in parallel with reforms, should push the development of the economy.

She spoke about this during her last visit to Ukraine in her position, reports 24 Kanal. Recall that she also noted that this is her last trip to Kyiv as a special representative, since she is leaving her post.

Pritzker on 5 fundamental changes in Ukraine's economic recovery

Penny Pritzker believes that Ukraine and its partners need to identify priority areas, changes in which can “turn into reality” the Western vision of paths to Ukraine's economic recovery.

The official named 5 areas in which the West should help Ukraine change.

First, Pritzker believes that a priority is developing Ukraine's capabilities to create projects that will be of interest to Western donors and investors.

According to her, it is necessary to create a mechanism for “interdepartmental planning with the help of (Western) experts who would work alongside Ukrainians… to create a single prioritized conveyor belt of recovery projects.” This should lead to the emergence of hundreds and even thousands of projects for which there are funds.

Secondly, it is necessary to accelerate reforms that are necessary not only to attract investors, but also to join the European Union and NATO.

Thirdly, we cannot limit ourselves to working on the seizure of 50 billion dollars of frozen Russian assets. Other sources of funding should be sought.

The fourth point that Pritzker indicated is that it is necessary to “revive the insurance, reinsurance, stock and banking markets.”

The fifth point is “to bring home veterans, internally displaced persons and refugees, teach them what is needed for recovery, and return them to the labor market,” she indicated.

If 5 key tasks are completed, this will form the foundation for a powerful economic recovery plan and pave the way to prosperity, Penny Pritzker emphasized.