SCEEUS: Accelerating Ukraine’s Economic Recovery

2023-06-01 | Expert publications, State of the economy

By Amb. Kurt Volker.

Grow Ukraine’s Economy Now

The time for action to accelerate Ukraine’s economic recovery is now. Ukraine’s economic reconstruction and recovery must not be the consequence of victory, but the pathway to victory. Ukraine must build while fighting.

Nearly 16 months after Russia’s full-scale invasion, it already is clear that Ukraine will survive as a sovereign, independent, European democracy, with a pathway toward EU membership. Russia will not succeed in erasing Ukraine’s national identity, toppling its government, or seizing more Ukrainian territory. Large areas of Ukraine are safe and open for business, except for Russian air raids which are largely thwarted by Ukraine’s air defenses and have no strategic impact. Investors and governments who have been reluctant to invest resources in Ukraine’s reconstruction should hesitate no more. Indeed, those who invest early will reap the largest returns.

At this year’s Ukraine Recovery Conferences, several steps should be taken. Past conferences – such as Lugano in July 2022 and Berlin in October 2022 – have offered shared principles for reconstruction, but no concrete programs and structures. This year’s conferences in Stockholm (June 8) and London (June 21-22) should produce specific programs and structures, to be implemented with consistency going forward.

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