Business news from Ukraine

Business news from Ukraine

ULIE, NGOs’ anti-crisis council prepare bailout action plan for government and businesses

17 April , 2015  

The social and economic situation in Ukraine remains extremely complicated, and the reform implementation process is very slow. The country’s economy exhibited no growth in the first months of 2015 – industrial production January through February 2015 was 21.7% down year-over-year. During these hard times businesses are ready to offer their support to the government and consolidate their efforts to overcome the crisis. Industrialists and entrepreneurs discussed these issues at a joint meeting of the Anti-Crisis Council of Non-Governmental Organizations and the Management Board of the Ukrainian League of Industrialists and Entrepreneurs (ULIE).

The ULIE and the Anti-Crisis Council of Non-Governmental Organizations, which includes more than 80 business associations, drew up the Anti-Crisis Program of Joint Actions of the Government and Businesses, and the business community has submitted it to the Ukrainian government. Businesses think that the measures they suggest could stop the slump in industrial output, improve the living standards of households, and give the economy a chance of development. “Our program is based on an unbiased depoliticized analysis of the situation in the country and utilizes the practice of many enterprises in recent months. It calls on the government for partnership as long as only effective cooperation between the state and the real sector of the economy could bring good results. We insist that a modern industrial strategy of the country should be elaborated, an export policy should be developed, the economy should be streamlined to meet European standards as soon as possible, the taxation and investment environment should be reformed, while specific conditions should be created for small- and medium-sized businesses and self-employed citizens,” ULIE President Anatoliy Kinakh said.

Industrialists and entrepreneurs believe that particular attention should be devoted to social protection and the introduction of effective targeted relief aid for vulnerable social groups.

Businesses’ associations also demand that the government create a favorable business environment, protect and support national producers, and create financially sustainable and developed regions in Ukraine. The Anti-Crisis Program suggests measures to improve the monetary policy of the National Bank of Ukraine (NBU), eliminate problems with energy security, facilitate energy efficiency and energy saving, fight against corruption, decentralize power, develop better personnel policies and restore Ukraine’s labor potential.

The ULIE is sure that the Anti-Crisis Program of Joint Actions of the Government and Businesses should become an integral part of the adopted Action Plan of the Cabinet of Ministers of Ukraine and the Coalition Agreement of the Verkhovna Rada of Ukraine.