Progress in Ukraine’s Economic Recovery
Ukraine has made significant strides in its battle against corruption, yet there remains considerable work ahead to unlock the full potential of its economy. This assessment comes from Penny Pritzker, the U.S. special representative for Ukraine’s economic recovery, who shared her insights during an interview on Monday.
Ms. Pritzker, who previously served as the U.S. Secretary of Commerce and is a prominent supporter of the Democratic Party, spoke as she prepares to conclude her one-year term in the Biden administration. Her appointment underscored the administration’s view that for Ukraine to withstand prolonged aggression from Russia, it must demonstrate not only military resilience but also economic viability.
Even amidst the ongoing conflict, it is crucial for Ukraine to start planning for its financial future. These objectives are still a work in progress. However, following her recent return from her sixth trip to Ukraine, where she has deep family roots, Ms. Pritzker expressed a sense of optimism regarding the country’s economic prospects.
She highlighted that Ukraine’s economy experienced a remarkable growth of 5 percent last year. Several major international companies are recognizing the opportunities present in Ukraine. For instance, Uber has successfully expanded its services to 18 cities in Ukraine, up from just nine in the previous year. Additionally, McDonald’s has been actively opening new restaurants across the country, signaling a robust business environment.
“There’s an economy that is functioning today,” Ms. Pritzker remarked. “President Vladimir V. Putin of Russia is attempting to undermine it, but the Ukrainian people are demonstrating resilience and perseverance.”
