Olga Magaletska took part in the discussion of the National Economic Strategy of Ukraine 2030

On February 2, 2021, Olga Magaletska, the Head of the Office of the National Investment Council, took part in meetings on to discuss the draft of the National Economic Strategy of Ukraine 2030. In particular, the topics of the meetings were "Digital Economy and Information and Computer Technologies" and "International Economic Policy and Trade. Export credit agency".

Representatives of the Ministry of Economic Development, Trade and Agriculture of Ukraine, the Ministry of Digital Transformation of Ukraine, the Ministry of Foreign Affairs, the Office of the President of Ukraine, the Center for Economic Recovery, MP’s of Ukraine, as well as leading experts and others took part in the meetings.

The participants of the meeting discussed conceptual approaches to the formation of economic policy until 2030, in particular, the results of the audit of Ukraine's economy and the vectors of economic development developed by the working groups for the National Economic Strategy.

Olga Magaletska noted that the development of the IT sector is extremely important for the economic development of Ukraine. She stressed that according to research by the Center for Economic Recovery, the full implementation of initiatives in the direction of "Digital Economy and ICT" will provide an additional 109 billion US dollars to GDP on the 10-th year of the strategy’s implementation (+ 59.5% GDP growth), which is 32% of the overall economic effect of the strategy ($ 340 billion).

"The IT sector is one of the most attractive for investors and one of the key drivers of the economic development.  Ukrainian IT specialists are known all over the world, so it is necessary to create conditions in Ukraine so that the best specialists of the industry remain to work in Ukraine, and foreign IT companies open their business here, investing in the economy and people. The Office of the National Investment Council, for its part, is actively involved in the development of the National Economic Strategy 2030 in the direction "Digital Economy and ICT" and relevant legislative initiatives. We have to develop the IT industry. Ukraine has every chance to become the most powerful IT hub in Europe," Olga Magaletska stressed.

The Head of the Office also stressed that ensuring economic development is impossible without an effective international policy and promotion of Ukrainian goods on the international market: “Improving the effectiveness of the policy to stimulate and promote exports, the development of economic relations, entry into regional projects, as well as the development of customs infrastructure are the main strategic goals in the direction of international economic policy and trade. According to the analysis carried out by the Center for Economic Recovery, the volume of support for exporters in Ukraine is lower than in a number of EU countries; in particular, the amount of export credits and guarantees in Ukraine is $ 7 million, which is the lowest in the region. In addition, the products of Ukrainian manufacturers are almost not represented on the growing markets of Latin America and Africa. The share of exports to both regions is only 7%, while the share of exports to the EU countries is 40.1% (first half of 2020). Therefore, we focus on supporting and promoting Ukrainian goods on the international arena, especially goods with high added value. The full launch of ECA will raise Ukraine's ratings as a reliable economic partner in the world,” Olga Magaletska said.

The Head of the Office also stressed that the full implementation of the direction  “International Economic Policy and Trade” will generate an additional 136 billion US dollars to GDP (+ 74.6%) on the 10th year of the implantation of the strategy, which is 40% of the total economic effect of the strategy. ($ 340 billion).

© 2020 Office of the National Investment Council of Ukraine