UAH 45 billion is reserved for support programs in the state budget this year
The implementation of the Made in Ukraine policy will provide at least 1% additional GDP growth in 2024. This was stated by First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko during the presentation of this economic platform, according to the Ministry.
“To win the war and build a strong economy, we must focus on our own production. To this end, the government is introducing a new state policy Made in Ukraine, which includes several key areas for the development of Ukrainian business. It is about stimulating demand for Ukrainian goods from the state and private sector, promoting investment in the real sector: cheap money, connecting to networks and developing industrial infrastructures, compensating investments through taxes and developing non-resource exports », she observed.
Svyrydenko added that 45 billion UAH is allocated in the state budget for support programs this year.
According to the First Deputy Prime Minister, up to 40% of the money spent on purchasing Ukrainian goods is returned through taxes paid to the security and defense forces.
“The government will give priority access to public contracts to Ukrainian producers, expanding the localization policy to new categories of goods, including defense contracts. It will also expand the compensation program for the purchase of agricultural machinery to other types of Ukrainian machinery, expand the eHouse affordable mortgage program, which will stimulate demand for Ukrainian building materials,” Svyrydenko said.
Announcing the launch of the Made in Ukraine platform, President Volodymyr Zelenskyy said that work is ongoing with partners to secure all investments in Ukraine against military risks, as well as to preserve and expand domestic export opportunities. He also said that the Ukrainian government has prepared proposals to resolve problematic issues on the Polish border, which have already been submitted to the European Commission and presented to Polish representatives.
As the GMK Center previously reported, last year the Ukrainian steel industry again focused on meeting the needs of the domestic market. In 2023, only half of steel products were exported, which is significantly lower than their pre-war share (around 80%). Last year, the industry also became even more integrated into the EU, as more than 80% of steel exports went to the EU (in 2022, the same figure was 60%). Despite the war, the Ukrainian steel industry survived and continues to function, and there is reason to believe that in 2024 the industry will maintain its role and will be the basis for the recovery of Ukraine's infrastructure and economy.
