Budanov: Ukraine cannot remain raw-material economy in war of attrition

Ukraine must seize the opportunity to take its rightful place in the global arms market and can no longer remain a country with a raw-material economy, Head of the President's Office of Ukraine Kyrylo Budanov said.

"A major war is first of all a competition of economies. To get through a war of attrition and the postwar recovery, we cannot remain a country with a raw-material economy... Our path is the export of finished products with high added value, the development of mechanical engineering and the military-tech sector. Ukraine must take its rightful place in the global arms market. And we must accelerate, because the window of opportunity will not remain open for long," Budanov said on Telegram on Wednesday after his speech at the Business Wisdom Summit.

He said that if the state does not help business, it should at least not stand in its way, and said he supports deregulation and a model in which private property is absolutely inviolable.

"Answering the question about the prospects of our citizens returning from abroad, we must discard all illusions. No one will return just like that. People are waiting for real security guarantees and an established economic foundation," the head of the President's Office said.

He also noted the major role of Ukrainian women in the wartime economy.

"While some men are fighting and working, and others are hiding or have fled abroad, it is women who have taken responsibility and become the foundation that holds up our rear and our economy. And this is proven by the numbers," Budanov added.