Ukraine expected to reach pre-war GDP by 2034 at current economic growth rates

This was stated by the head of Ukraine's Finance Committee of the Verkhovna Rada, Danilo Hetmantsev.

"Clearly, the current pace of recovery is insufficient. At this year’s economic growth rate, we will reach the pre-war level of GDP in real terms by 2034. Security risks have been and will remain the main limiting factor for development," the MP wrote.

According to him, during peace negotiations, it is important for Ukraine to secure reliable security and economic guarantees for post-war development.

"Because long-term peace and socio-economic development are very much interconnected," the politician emphasized.

Hetmantsev reminded that back in 2022, when preparing for the presentation of the National Recovery Plan, he and his colleagues concluded that Ukraine would need $750 billion to eliminate the consequences of the war.

"But now, it’s not just about future direct budgetary support, grants, investments, and loans. In these turbulent times of trade wars, we need guarantees of access to capital markets, goods, and services. We must be certain about such full access to the EU market in the short term," the politician stressed.

He emphasized the need to discuss conditions with international partners to avoid trade disputes.

In his opinion, agreements are needed to launch joint projects in sectors such as defense industry, logistics infrastructure, energy, agriculture, and others.

"Parliament and the government must work together to ensure that our negotiation team engages with partners with concrete proposals," Hetmantsev believes.

He reminded that the international Ukraine Recovery Conference will be held in Rome this July.

"This is a great opportunity to discuss economic guarantees and reach specific agreements," the MP said.

• In Ukraine, inflation is accelerating, which prompted the National Bank of Ukraine to raise the key interest rate to 15.5% in March.