PM Honcharuk: Ukraine needs US$50 bln in investment for 40% GDP growth

Ukrainian Prime Minister Oleksiy Honcharuk says Ukraine needs US$50 billion in investment in the next five years to ensure 40% GDP growth.

"We confirm that in the next five years we consider it realistic and set ourselves the ambitious goal to come to a situation where our economy will grow by 40%," he said at a briefing on the government's action plan, which was to be tabled in parliament. "To do this, we need to raise about US$50 billion in investment over five years. This is not an exorbitant figure, it is big, ambitious, it is much larger than the one we are attracting now, but it's quite doable."

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Honcharuk added that, among other things, the Cabinet of Ministers aims to create one million jobs over the next five years. "This does not mean that the state will build factories in each region for its money – this is not the case. This means that it is necessary to create such conditions so that it would be comfortable for people to do business, to start up a business, so that foreign investors and large companies would be interested in entering Ukraine and placing their production facilities here," he said.

As UNIAN reported earlier, Honcharuk said on September 2 that the new government's task is to grow the Ukrainian economy by at least 40% in five years. According to him, to ensure the Cabinet's task of boosting economic growth in the next five years, Ukraine's GDP should grow by 5% in 2020 and continue rising by at least 7% per year in 2021-2024.