Ukraine counts on German equipment supplies for economic recovery

Ukraine is counting on German investments and modern equipment to help it rebuild its infrastructure and modernise its economy after the war.

Source: statement of Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy, during the sixth German-Ukrainian Business Forum.

Svyrydenko said that long-term investments were needed to ensure faster growth of the Ukrainian economy. It is very important for German businesses to understand that today Ukraine is not only a country in need of financial assistance, but also an economy with good prospects for investors.

"The Ukrainian economy is gradually moving towards its recovery. I believe that this year's GDP growth will exceed 4%, and next year, we expect the economy to grow by 5%," the minister said. 

Svyrydenko added that 30 German companies have already expressed their willingness to invest in Ukraine. 

She stressed that Ukraine will soon need a significant number of metalworking machines and equipment for the production of construction materials, as well as equipment for the restoration of destroyed businesses and processing of raw materials.

Ukraine is also interested in setting up production to replace imports from Russia and Belarus. It concerns glass, paper, metallurgical and chemical products, engineering products, etc.

The Ukrainian government is working on options for developing joint incentives that would make German equipment attractive and affordable for Ukrainian industrialists.

Background: The German Federal Ministry for Economic Cooperation and Development (BMZ) will invest additional funds of €111 million into Ukraine.

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