Ukraine’s government presents program for economic stimulus to overcome Covid-19 pandemic consequences

Source : 112 Ukraine

According to Prime Minister, the government worked on the program for over six weeks
17:19, 27 May 2020

Meeting of Ukraine's Cabinet of Ministers

The Cabinet of Ministers of Ukraine extended the program for economic stimulus to overcome the consequences of the Covid-19 pandemic as 112 Ukraine TV channel reported citing Ukraine’s Prime Minister Denys Shmygal.

According to him, the document was prepared starting from the beginning of lockdown in Ukraine. The government was developing the program for six weeks.

“We involved dozens, exactly, 90 developers, the best think tanks of the country, dozens of business associations and particular companies (including the representatives of small and medium business),” the Premier said.

Related: Website with ‘quarantine’ statistics of economy launched in Ukraine

Shmygal noted that Ukraine will use the whole spectre of the instruments of the World Trade Organization (WTO) and General Agreement on Tariffs and Trade (GATT) to protect its enterprises.

“Each industry has two obligatory parameters in a prepared strategy. The issue is about the access to the funds and access to the markets,” the Premier added.

Moreover, the government discusses the decrease of the tax burden for small businesses.

“Our success will be illustrative when common individual entrepreneurs will have no need in the assistance of the accountants to fill the document and Ukraine will joint TOP-30 world countries in terms of easiness of tax administration,” Shmygal stated.

Related: IMF forecast: Damage to Ukrainian economy due to coronavirus pandemic

As we reported, over the last two months, the financial losses of Ukrainian shopping malls have reached 261 million dollars in rental income, and tenants have lost more than 1.8 million dollars in turnover. 



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