The EU's Prosperity Level — How Long Will It Take to Rebuild Ukraine.

The Ukrainian government is actively engaged in the issues of restoring the country's economy. Economist and member of the National Bank Vasyl Furman shared his thoughts on the recovery strategy, the Time required, and the resources needed for it.

How Long Will It Take to Recover

Furman noted that the current economic growth rates are insufficient for the full-fledged rebuilding of Ukraine. According to him, a 10% annual growth rate needs to be achieved over 20-30 years to reach the prosperity level of European countries.

'It is important that the economic growth rates in Ukraine reach 7-10% over one generation,'

The Need for Reforms for Recovery

The basis for rebuilding Ukraine must be various reforms: judicial, tax, customs, and anti-corruption. Although the government is already taking steps in this direction, progress is not yet as significant as needed.

'It is essential to improve infrastructure, support high value-added businesses, and fight corruption,'

The situation in Ukraine is compared to Poland, where GDP differs due to modernization and the development of high-tech businesses.

Other Important Aspects

Businesses in Ukraine are forced to look for options abroad due to corruption and pressure. Experts advise citizens to be cautious with currency operations due to the uncertainty of the future euro exchange rate in the country.

The government's efforts and reforms are essential for overcoming economic challenges; however, the path to full recovery requires a long-term and systemic approach at the societal level.