Prime Minister reports on new reforms Ukraine is preparing

The Ukrainian government is preparing a matrix of reforms which will encompass all areas from economy and digitalisation to the rule of law and education.

Source: Denys Shmyhal, Prime Minister of Ukraine, at the opening of the regular ministerial-level meeting of the Organisation for Economic Co-operation and Development (OECD): Eurasia Week 2023, as reported by the Uriadovyi (Government) Portal

Quote: "We have set ourselves ambitious goals, including Ukraine’s membership of the European Union and the OECD in the coming years.

With the help of our partners, we are preparing a reform matrix – comprehensive analytical data on all the reform commitments that Ukraine has undertaken. This is a clear roadmap that will bring together the key reforms of the Ukrainian Government and will also include recommendations and proposals from our international partners."

Shmyhal stressed that the list of reforms would cover all sectors.

"Anti-corruption initiatives will play a very important role. Our focus is not only on putting corrupt officials in jail, but first and foremost on creating a system in which there is no possibility of corruption. This will be possible thanks to the digitalisation of public services, deregulation of business, and a reduced role of the state in the economy," the head of the Ukrainian government explained.

He added that Ukraine is also involving the private sector, which plays a key role in the plans to revive the economy and implement the recovery programme.

Shmyhal said that Ukraine is guided by the IMF benchmarks, recommendations of the European Commission, developments with the World Bank and the OECD, and the reform plan currently being developed within the EU’s four-year Ukraine Facility initiative.

"Despite the war, we have started to rebuild. We have identified priority sectors, created a management infrastructure, prepared transparent mechanisms and engaged our international partners. The 3rd Rapid Damage and Needs Assessment for Ukraine is currently being prepared. This will be an updated assessment of the consequences of the Russian invasion for the period from 24 February 2022 to 31 December 2023," Shmyhal said.

He stressed that within the last 20 months, Ukraine and its economy has shown great adaptability. Despite all the hardships and challenges, Ukraine has managed to:

• support macroeconomic stability;
• keep inflation under control;
• overcome a large-scale production shutdown and the consequences of labour outflows;
• resume logistics routes in the face of the blockade of the Black Sea ports;
• launch a rapid reconstruction programme;
• obtain EU membership candidate status;
• coordinate a productive dialogue with international financial institutions and obtain a $15.6 billion Extended Fund Facility from the IMF.

"We are grateful to our partners for their financial support, which has helped to maintain Ukraine’s economic and financial stability and to finance priority budget expenditure," the head of the Ukrainian government said.

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