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On the Future of Ukraine's Economy

(FILE) The Ukrainian flag is covered with grains.
(FILE) The Ukrainian flag is covered with grains.

From the beginning of its illegal and unprovoked attack on Ukraine, Russia has targeted Ukraine’s infrastructure and agricultural industry. 

The Future of Ukraine's Economy
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From the beginning of its illegal and unprovoked attack on Ukraine, Russia has targeted Ukraine’s infrastructure and agricultural industry.

“The destruction wrought by Russia’s war of aggression against Ukraine, particularly with regard to its economy in all of its manifestations, has been horrific,” said Secretary of State Antony Blinken.

“But we are already seeing remarkable strides by Ukraine not only to build back what has been lost, but in many cases to really build back with the future in mind.”

“Ultimately, the objective here is not only for Ukraine to survive which it will, which it is, which it has – but to thrive,” declared Secretary Blinken.

“The difference between surviving and thriving is the difference between a Ukraine that has, for the future, a strong, capable military that can deter aggression and as necessary defend against it and defeat it far into the future. But as important, a strong and thriving economy - one that creates opportunities for Ukrainians, but also, I believe, opportunities for people throughout Europe and around the world, including the United States.”

“When I look at Ukraine now, I see three things,” said U.S. Special Representative for Ukraine’s Economic Recovery, Penny Pritzker.

“First, even amid and certainly after Russia fails in its war of aggression, Ukraine has the conditions for economic convergence with Europe - an educated and talented workforce, fertile land, mineral and mining and material wealth, [and] proximity and access to the European single market.”

“These are ingredients for growth. Even now, they exist and they’re there,” noted Special Representative Pritzker.

“Second ... is a window of opportunity for reform. The Ukrainian people’s deep patriotism and national consensus are unified behind a reform agenda that positions Ukraine for future economic success.”

Third, Special Representative Pritzker stressed that Ukraine’s economic recovery is both a sprint and a marathon.

“We need to plan for a long-term sustainable, digital, clean, competitive, European Ukraine, integrated into global markets. That’s the marathon. … But we need results now also, and to jumpstart revival and give the Ukrainians and give the people confidence to come home and to start building towards the future. That’s the sprint.”

“As President Biden stated so eloquently,” stated Special Representative Prizker, “we stand with Ukraine, and we stand with them to help them build their economy from the severe impacts of this monstrous aggression.”