Ukraine needs more financial and military support so that Kyiv does not resort to “printing money” and keeps the economy afloat. This was stated by the chief economist of the European Bank for Reconstruction and Development (EBRD), Beata Javorczyk, in Davos, reports The Guardian.
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In During an interview in Davos, Javorchyk said that the economic situation in Ukraine was difficult, despite GDP growth of 5% last year.
“The big risk is that if the money doesn’t come from abroad, The government (of Ukraine – ed.) may have to resort to the “printing press”. The government has done a very good job of ensuring macroeconomic stability. We need to support Ukraine not only militarily, but also because of budgetary support,” she noted.
Investing in Ukraine
Javorchik said the EBRD plans to invest between €7.5 billion and €15 billion in Ukraine over the next five years, focusing on supporting the private sector.
She said there is a “significant risk” given the likelihood of continued war, economic breakdown.