Ukrainian PM spells out what US$800bn could cover under economic peace deal
Prime Minister Yuliia Svyrydenko has said that Ukraine needs US$800 billion to cover spending over the next 10 years, excluding security spending.
Source: Svyrydenko at a meeting with security advisers from Western countries, as reported by European Pravda
Details: Svyrydenko noted that Ukraine needs "huge" capital investments, and these should form part of the peace agreements being drafted by Ukraine and Western countries. The funding is envisaged in an Economic Prosperity Agreement, a draft of which has been drawn up but not yet made public.
Quote: "The financial investments required to ensure economic prosperity are huge. From today's perspective, it is US$800 billion over the next 10 years."
More details: The prime minister stressed that the figure is not final, as it does not include one major spending category.
Quote: "This includes [spending to maintain] macro-financial stability, compensation for losses, reconstruction needs, and financing for the necessary economic boost. But it does not include defence funding, which we expect to decrease over time provided there are effective security guarantees."
More details: Svyrydenko also underlined the need to cover the budget deficit created by the war.
Quote: "[After security needs,] the next goal is economic stability. Without economic stability, there is no point talking about attracting investment."
Background:
- US representative Steve Witkoff also took part in the economic panel via video link.
- Ukrainian Deputy Foreign Minister Serhii Kyslytsia earlier outlined what the advisers discussed in Kyiv during the first part of the meeting.
- President Volodymyr Zelenskyy has said that some of the documents aimed at settling the war will be ready to sign in January.
- A document setting out the sequence for implementing the points of the peace agreement has recently been added to the list of documents being agreed.
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