Investments Instead of Loans: How Ukraine Will Rebuild Its Economy After the War
1 April 14:04
Once the war ends, Ukraine must shift its approach to financing the economy—from loans to investments—and move toward long-term planning. Economist Andriy Novak discussed this in an interview with the YouTube channel "Komersant Ukrainian".
“After the war, we shouldn’t be going around the world asking for money. The main source of funds for Ukraine is investment, not loans. Loans may be available for businesses, but the state must aim to reduce debt,” the expert emphasized.
The current budget deficit, projected at 2.4 trillion hryvnia for 2026, is largely covered by international aid. But after victory, the volume of aid may decrease, so Ukraine will have to find domestic sources of support for its economy.
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According to Novak, the key to attracting investment is not loud appeals, but clear rules of the game and long-term planning.
“Without this, there will be no serious investment. Investors don’t respond to calls—they go where they see potential. And potential requires at least medium-term planning, or better yet, long-term planning,” he explained.
Novak noted that over the years of independence, Ukraine has received only about $20 billion in foreign direct investment, which is a “drop in the bucket” for the domestic economy.
“Investors don’t invest in the unknown. Ukraine must become transparent and predictable. This requires a strategic development plan covering at least 10–15 years,” the economist concluded.
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