09:09 10.02.2020

Economy ministry proposes package of anti-crisis measures for Ukraine's economy

2 min read
Economy ministry proposes package of anti-crisis measures for Ukraine's economy

The Economic Development, Trade and Agriculture Ministry of Ukraine has proposed a package of anti-crisis measures for the country's economy, including extended financing for programs to UAH 20 billion, Economic Development, Trade and Agriculture Minister Tymofiy Mylovanov said following his report to the Verkhovna Rada Committee on Economic Development.

The key proposal is to consider a possibility of extending the financing for programs and projects to UAH 20 billion in order to stimulate transport infrastructure projects, financial aid programs, production programs in various sectors and defense industry development, he said on Facebook on February 7.

The ministry is working on the creation of a coordination center for industrial issues which will bring together representatives of trade associations, big enterprises and think tanks. The center will develop aid programs for the industries, the minister said.

"We are entering a growth phase in industries. We have seen signs of metallurgy revival in January," Mylovanov said, adding that the key challenges for industrial development in Ukraine are outmoded equipment, reorientation of markets and the introduction of the carbon tax in the EU.

"Further increase of exports to the EU is under threat as domestic producers will suffer loss and lose their competitive ability following the introduction of the carbon border tax in the EU," Mylovanov said.

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