Ukraine's long-term problems can only be solved by increasing production, sales abroad - economist Reinert

The professor of Technology Governance and Development Strategies believes that in order to overcome the trade deficit, Ukraine should concentrate on industries where it has potential, and not wait for the world to cover it.

“I think you will not get money to cover your trade deficit. If you say "please pay our trade deficit'', they will not do that. You have to focus on productivity. There are still some state companies around Ukraine which are at a loss. So, if you set some kind of coordinating office like the Marshall Plan, then you should get an impact from industries where you have capacity, and then you have to try to increase that potential with the aid you get, or duty-free imports, etc. And that will be very useful. I think it's a matter of coordination in a sense. I think politically it won't be a problem to get all these people coordinating from all the political parties. I think that will be possible,” Erik Reinert noted. 

According to the economist, the only way to overcome Ukraine's long-term trade problems is to increase production and sales abroad.

“You may have to do like Argentina did to default. I don't know enough but I think your long-term trade problems can only be solved by increasing your production and sales abroad, and the way of good will that you have will help do that,” Erik Reinert concluded. 

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