Although the budget is short of funds, we will support a business that works “in the white”

Against the backdrop of risks of a decrease in international aid, the Ukrainian government is considering how to optimize spending, but is determined to finance programs to support businesses that work “in white” and pay taxes.

This was announced by the First Deputy Prime Minister of Ukraine Julia Svyridenko in an interview with Voice of America Ukrainian Service journalist Oksana Bedratenko.

For the next year, the budget provides programs for access to “5-7-9” credit, a grant program for starting one’s own business, and a grant program for supporting the processing industry, the official said. In order to participate in such programs, a business must pay taxes, have employees and pay wages.

“All our resources are very limited, but the existing business support programs are permeated with a single idea: we will help and support those who work in white, who pay taxes in white,” the official said.

Answering the question of whether Ukrainian business distrust of the authorities limits the willingness of enterprises to cooperate with important state tenders during the war, Svyridenko assured: the Ukrainian economy is already working on military rails.

“A large number of enterprises carry out state orders, a large number of enterprises carry out mobilization tasks,” says Svyridenko. She adds: the government is now focused on the development of the military-industrial complex, which will give even more enterprises the opportunity to engage in production.

Svyridenko, who is on a visit to the USA, discussed business development in Ukraine with the head of the American state Development Finance Corporation (DFIC).

The head of the corporation, Scott Nathan, said that his organization is ready to insure companies operating in Ukraine against the risks of war and has already approved such insurance for investors investing in a rehabilitation hospital.

“Our corporation is looking for projects that help support the Ukrainian economy today, so that people have jobs and economic development is high. We are not waiting for some date in the future. We are open for business in Ukraine now,” Nathan said.

Investments by private companies will increase Ukraine’s self-sufficiency, says Svyridenko and emphasizes: this is especially important in view of the large budget deficit, which may reach 41 billion dollars next year: “In order to achieve this goal, we must receive a flow of private investments.”