On May 27, 2024, the second meeting was held to present the results of the study on the TOP-17 key projects of research institutes for the recovery of Ukraine’s economy. The professional discussion was held in accordance with the work schedule established by the Scientific Discussion Platform at the Ministry of Economy of Ukraine.

During the scientific discussion, the following urgent topics were discussed:

1. Scenario forecasting: different volumes of international aid (received / not received) (first stage).
2. Introduction of a special taxation regime for producers in defense industry.
3. Substitution of imports in public procurement via localization (elevators, cables, road equipment, furniture, light industry).
4. Increasing authorized capital of the Export Credit Agency (ECA) for insurance/crediting of export contracts and insuring the investments against military risks (solution: attraction of USD 300+ million).

The results of scientific research on the first three points were presented by the departments of Modeling and Forecasting of Economic Development, Public Finance and Industrial Policy of the SO "Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine", those on the fourth one – by the State Research Institute of Digitalization and Modeling of the Economy.

In particular, the Head of the Department of Modeling and Forecasting of Economic Development, Maria SKRYPNYCHENKO, reported on the results of scenario assessments of macroeconomic indicators under various variants of international aid to Ukraine.

Head of the Department of Public Finance, Inna LUNINA presented the results of a scenario assessment of the impact of the introduction of a special taxation regime for defense industry producers on budget indicators and proposals for the introduction of a special taxation regime for producers in the defense-industrial complex via various tax instruments.

Researchers of the Industrial Policy Department - Olena TSYPLITSKA, Oksana KUSHNIRENKO, Olena SNIHOVA, and Maria ZAVHORODNYA identified the problems that prevent Ukrainian industrial producers from winning in public procurement, and proposed various measures to stimulate import substitution for such types of products as elevators, cables, road equipment, furniture, and light industry. products

Based on the research results, all reports included the assessments of the impact of specific projects on key macroeconomic indicators: the country's GDP, employment, budget, balance of payments, etc.

The published scientific results caused a lively discussion among the participants, during which the importance and necessity of their quick practical implementation was emphasized.

The event showed the importance of involving scientists in solving the urgent problems of the recovery and development of Ukraine’s economy in the conditions of military challenges and the effectiveness of establishing an effective dialogue between science, the public and governing bodies.

In April, the Head of the Sector of International Financial Relations of the Public Finance Department Doctor of Economics at this Institute, Professor Olena Borzenko saw with her own eyes the "miracle on the Han River" (that's how they call the South Korean economic miracle of the second half of the 20th century), at the invitation of the Korea Foundation (KF) during her visit to the Republic of Korea together with representatives of the USA, Indonesia, Tanzania, Senegal, Jordan, Yemen and Slovakia.

            Each invited participant was personally greeted by the President of the Korea Foundation, Amb. Gheewhan Kim.

            Representatives of the Federation of Korean Industries (FKI) visually introduced the guests to the macroeconomic indicators of the Republic of Korea over the last more than 60 years (since 1961), stressing that industrial business, and domestic investors restored the country side by side with state institutions. And representatives of the global marketplace (e-commerce platform) - the Korea Trade-Investment Promotion Agency (KOTRA), which has a branch in Kyiv - describe how they are helping Korean businesses grow at the international level today.

            At the National Bank of Korea, guests were shown the presentation on "The Financial System of North Korea and Modern Economic Problems" with a comparison of macroeconomic indicators, exchange rate dynamics, living standards and education of North Korea (Democratic People's Republic of Korea) and South Korea (Republic of Korea).

            Participants of the exchange program of the Korea Foundation had the opportunity to verify this by visiting a number of organizations, including the Global Knowledge Exchange & Development Center in Seoul. At the Hyundai Research Institute (HRI), the visitors were shown a car of the future, the fuel for which is hydrogen obtained from water, and at the Space Technology Center of SK Telecom T.um (T.um is 'Technology, U-topia, Museum') - a new world where everything is connected with services based on artificial intelligence.

            Within the Korea Foundation program, Doctor of Economics, Professor Olena Borzenko met with South Korean scientific colleagues - Professor of the Department of Economics at Seoul National University Bonggeun Kim and Researcher from the Korea Institute of International Economic Policy Minhyeon Jeong. They emphasized that it was high school, education, science and innovation that became the driver of the recovery of the Republic of Korea, and the main component of the "Miracle on the Han River" is a hard, conscious and selfless work.

            During the visit, a preliminary agreement was reached on the signing of memorandums of cooperation between the Institute for Economics and Forecasting of NAS of Ukraine and the Department of Economics of Seoul National University, as well as between the Institute for Economics and Forecasting of NAS of Ukraine and the Korea Institute of International Economic Policy (KIEP). These documents will provide for the implementation of joint projects, holding international conferences, seminars and round tables, and publishing international monographs and collections of scientific works.

            At the end of the visit, the guests visited the two-kilometer Korean Demilitarized Zone (DMZ) between the Republic of Korea and the Democratic People's Republic of Korea.

More information – on the NAS website of Ukraine

Dear colleagues!

We invite you to take part in the international scientific and practical conference "INTERNATIONAL FINANCIAL ASPECTS OF UKRAINE’S ECONOMY RECOVERY", which will be held on June 6, 2024 at the SO "Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine".

The conference aims to exchange scientific views and practical developments on key  aspects regarding topical issues of the recovery of Ukraine’s economy in the conditions of martial law.

Venue: 01011, Kyiv, 26, Panasa Myrnoho Str., State Organization "Institute

for Economics and Forecasting of NAS of Ukraine".

Beginning: at 10:00 a.m.

Conference working languages: Ukrainian, English

Moderator: Dr. Sc., Professor Olena BORZENKO

Poster presentation: 15-20 minutes

Participant’s presentation: 8-10 minutes

During the conference, discussions are planned in the following scientific directions:

• The role and opportunities of the banking system of Ukraine in martial law
• International financial organizations in the process of economic modernization of Ukraine
• The role of public-private partnership in the economic recovery of Ukraine
• International cooperation and international financing for the Ukrainian economy recovery
• The role of international financial funds and organizations in the transformation of Ukraine’s economy
• Debt strategy and assessment of the state’s debt security level
• Transnational corporations as global investors of today
• International capital migration in contemporary conditions

Registration of participants and submission of abstracts (file name, e.g.: Surname_abstract) is carried out via the link: https://forms.gle/vmrSK8SxjJAPYz3M9

Deadline for registration and submission of abstracts: June 4, 2024.

More information