Risk of delayed social payments: The Cabinet of Ministers has an action plan in case of financial difficulties

Ukraine is considering an alternative action plan in case of delays in funding from foreign partners in the first months of 2024. According to First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko, there may be a risk of delaying social payments in the long run.

Svyrydenko emphasized that there is a plan B in case of possible financial difficulties. She is confident that delays in funding from the EU and the US will not become a reality, but contingency plans have already been developed in case of such a situation.

The government plans to provide additional incentives for economic development and accelerated growth as priority measures in 2024. These include the development of production, support for non-resource exports, and attracting investment in the real sector.

Among the priority measures planned by the Cabinet of Ministers are the confiscation of Russian sovereign assets for transfer to Ukraine and the expansion of exports and transportation to generate over $10 billion in export revenues.

The plans include expanding energy capacity, returning Ukrainians, and developing defense industry enterprises. It also envisages attracting investments into the economy through financing, war risk insurance and privatization.

Yulia Svyrydenko emphasized that the government is working on various scenarios, and this is just one of the possible options being analyzed.