The United States Encourages the Ukrainian Government to Increase Profits Through Reforms, Not Tax Hikes
During her visit to Kyiv on July 29, the United States’ Special Representative for Economic Recovery in Ukraine, Penny Pritzker, stated that the US is encouraging the Ukrainian government to focus on implementing reforms rather than raising taxes in order to increase profits. This statement was reported by «Ukrinform,» a Ukrainian news agency.
The US has been a strong supporter of Ukraine’s economic recovery efforts since the country’s independence in 1991. In 2014, Ukraine faced a severe economic crisis, which was further exacerbated by the ongoing conflict in the eastern regions of the country. The US has been providing financial and technical assistance to Ukraine to help stabilize its economy and promote sustainable growth.
Pritzker’s visit to Kyiv was a part of the ongoing cooperation between the US and Ukraine to strengthen economic ties and promote reforms. During her visit, Pritzker met with Ukrainian President Volodymyr Zelensky and other government officials to discuss ways to boost economic growth and attract foreign investment.
In her statement, Pritzker emphasized the importance of implementing structural reforms to improve the business climate in Ukraine. She stated that the US is committed to supporting Ukraine’s efforts to create a more transparent, predictable, and competitive business environment. This, in turn, will attract more foreign investment and help increase profits for both domestic and international businesses operating in Ukraine.
Pritzker also highlighted the need for Ukraine to continue its efforts to combat corruption, which has been a major obstacle to economic growth and foreign investment in the country. She praised the progress made by the Ukrainian government in this area and encouraged them to continue their efforts to root out corruption and promote good governance.
The US has been a vocal advocate for Ukraine’s anti-corruption efforts and has provided significant support to strengthen the country’s institutions and promote transparency. In 2014, the US helped establish the National Anti-Corruption Bureau of Ukraine (NABU) and has since provided financial and technical assistance to help the bureau carry out its mandate effectively.
Pritzker also highlighted the importance of Ukraine’s cooperation with the International Monetary Fund (IMF) in implementing economic reforms. The US has been a strong supporter of Ukraine’s IMF program and has provided over $2 billion in loan guarantees to help the country meet its financial obligations.
The US has also been working closely with the Ukrainian government to promote trade and investment between the two countries. In 2020, the US and Ukraine signed a bilateral trade and investment agreement, which aims to eliminate trade barriers and promote economic cooperation.
Pritzker’s visit to Kyiv and her statement reaffirm the US’s commitment to supporting Ukraine’s economic recovery and promoting sustainable growth. The US believes that implementing structural reforms and fighting corruption are crucial for Ukraine’s long-term economic success. By encouraging the Ukrainian government to focus on reforms rather than tax hikes, the US is sending a positive message to both domestic and international investors that Ukraine is a stable and attractive place to do business.
In conclusion, the US is a strong partner and supporter of Ukraine’s economic development. Through financial assistance, technical support, and cooperation, the US is helping Ukraine to overcome its economic challenges and build a more prosperous future. The US believes that by implementing reforms and promoting good governance, Ukraine can attract more foreign investment and increase profits, leading to sustainable economic growth and a better quality of life for its citizens.
