On March 18, the Cabinet of Ministers of Ukraine approved the Ukraine Plan, which will serve as the framework for the EU’s economic support to Ukraine for the period 2024-2027 under the Ukraine Facility of the EU.
The primary objective of the Ukraine Plan is to develop sectors that can have the most significant positive impact on the country’s economy. The sectors identified as having the greatest potential for economic growth include energy, agriculture, transport, critical raw materials, and IT.
Additionally, the Plan includes the implementation of structural reforms in the public sector and a series of economic reforms, which aim to improve the business climate and the development of entrepreneurship, attracting investment, creating jobs, promoting economic stability and trade liberalisation.
Furthermore, the Plan aims to integrate Ukraine effectively into the EU single market through compliance with EU rules, standards and policies. This includes completing the implementation of EU accession recommendations, participating in EU sectoral programs and aligning Ukrainian legislation with EU legislation.
The implementation of the Plan is expected to contribute to the European integration of Ukraine and foster sustainable economic development. It contains over 150 indicators across 69 reform sectors to be executed by 2027. Additionally, the Plan includes 16 investment indicators, as part of broader list of reforms for infrastructure development, demining, renewable energy sources (RES), and support for small and medium enterprises (SMEs).