The new government faces serious challenges: how to maintain the macroeconomic stability during the peak of external debt repayments, how to accelerate economic growth and close the gap between Ukraine and its EU neighbors. And these challenges must be overcome in the face of serious demographic problems that require both an urgent and a long-term response plan. Economic growth must be sustainable – years of economic downturn cost the country in the long run very expensively.
What to focus on for the purpose of economic growth:
- maintaining macroeconomic stability;
- increase efficiency through attracting investment, more effective use of natural resources, infrastructure development and business climate improvement;
- increase in both the quantity and quality of human capital;
- establishing the rule of law that will ensure the protection of property rights and the contract enforcement , and to take advantage of the opportunities provided by Ukraine’s integration with the EU.