Ukraine can no longer afford to have a shadow economy, Zelensky says

10 June, 04:24 PM
Ukrainian President Volodymyr Zelensky (Photo:Ukrainian Presidential Press Service/Handout via REUTERS)

Ukrainian President Volodymyr Zelensky (Photo:Ukrainian Presidential Press Service/Handout via REUTERS)

Due to the constant military threat from Russia, Ukraine can no longer afford to tolerate a part of its economy operating in the shadows, Ukrainian President Volodymyr Zelensky said in his latest nightly video address.

“Now there’s a lot of discussion in Ukraine about what our economic policy should be, both during the war and when we restore peace,” Zelensky said.

“I want to emphasize one detail, and this detail is fundamental: We have to get used to the fact that there can only be two parts of society – those who defend our independence and those who work in a way to ensure that defense. And this is not a question of one or another economic doctrine, nor a question of one or another political position. We simply cannot afford to have a “shadow” part of the economy in the country.”

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Zelensky added that in wartime, any economic activity, whether official or nonofficial, is a matter of survival.

“But if we talk about the normal, stable, and strong life of society, the work of the state, our defense, we must understand: there are those who serve, and there are those who provide with their work for those who serve,” Zelensky said.

“So, this means official employment. This means the payment of taxes. This means the maximum expansion of economic opportunities in our country on legal grounds. And this means a complete modernization of state institutions.”

Zelesnky said that he had held a meeting with the government on economic issues. Officials agreed that it was necessary to develop state support for small businesses through the provision of cash grants as soon as possible.

In addition, enterprises in the field of defense and national security should become a priority for the Ukrainian economy, the president said.

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