The full implementation of Ukraine’s plan to implement the Ukraine Facility program could lead to an increase in GDP by 6.2%.
The European Commission predicts that the full implementation of Ukraine’s plan to implement the Ukraine Facility program could lead to an increase in Ukraine’s GDP by 6.2%. This was stated by the Deputy Director of the Ukrainian Service of the Directorate General for Neighborhood Issues and Enlargement Negotiations of the European Commission Marlene Medsen, reports Ukrinform.
“When the European Commission assessed the plan of Ukraine in accordance with the established criteria, it was noted that throughout the implementation of the plan, the GDP of Ukraine could increase by 6.2%. the main reforms and the schedule for their implementation are very important,” he said.
Commenting on the 69 reforms identified in the Ukrainian plan, Madsen noted that the idea is to precisely identify areas that can help Ukraine to quickly integrate into the EU market.
The European Commission also wants this plan to give the Ukrainian authorities an understanding of how to work with donors and at the domestic level to have a common understanding of growth in the short and medium term.
The macro forecast published by the European Commission in May noted that Ukraine’s economic growth will slow to 2.9% this year, followed by an acceleration to 5.9% in 2025.
Let’s recall that on February 1, EU leaders at a summit in Brussels agreed on a €50 billion support program for Ukraine called the Ukraine Facility. It is designed for the period of 2024-2027. It is assumed that the receipt of funds for the Ukraine Facility depends on the implementation of 100 quarterly indicators by Kiev.
This year, Ukraine has already received 6 billion euros of financial support from the EU – in March and April – for the implementation of five indicators in the first quarter. There are nine more indicators that must be met in the second quarter.
Source: korrespondent
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