On July 3, the Ministry of Economy of Ukraine presented its 2030 Employment Strategy aimed at supporting economic development by reducing unemployment, ensuring equal access to quality jobs, supporting SMEs, and increasing market flexibility. The Strategy is intended, among other things, to facilitate the creation of new jobs and reform the employment service system. It appears that the government’s primary focus will be on reactivating the economically inactive population, which exceeds 12 million people, and achieving a target of 20 million employed citizens.
Increasing economic opportunities is a crucial aspect of any discussion about the future of Ukraine. Not only for the sake of people still living within its borders, but also for those who were forced to become refugees by the Russian invasion. More than 6 million Ukrainians have not returned home yet. For them to decide to do so, they need security for themselves and their children, economic security. They need to be able to make a comfortable living without the constant threat of missiles and drones.
The peace component is quite obviously lacking, which in turn severely limits economic opportunities. In addition to Ukraine being an economically unfree country. And that is another massive concern. Right now, more than ever, Ukraine needs to become as business-friendly as possible. It will result in more jobs, higher wages, and increased opportunities for self-employment. This would be an impactful step in the right direction.
Step two would be the removal of the travel ban for 18-to 22-year-old boys, which essentially drives 16 and 17-year-olds out of the country to avoid facing the ban in a couple of years. This pushes them both out of the Ukrainian educational system and the labor market and allows them to establish stronger roots abroad.
With these key puzzle pieces missing, any strategy is likely to end up being a partial picture of good intentions and very limited real impact.
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