the first step was taken by the national legislation that allows the confiscation and transfer of frozen assets to ukraine in germany there have already been precedents of the confiscation of the assets of russian oligarchs and also the transfer of part of these assets to ukraine, that is, this process has begun but of course we have to initiate it, push it, moderate it in order to he went to the front and it will of course be a big, well, quite a massive source of funding for the future recovery of ukraine, as it should be and in the future, of course will become such an element of the global security system, because the aggressor or potential aggressor will understand that he will pay for his unprovoked and completely unjust aggression. that is, it is important , of course, the other part of these funds, of course , will be grants and loans from our partners. business funds that are ready to invest in ukraine because this is also the restoration of business e-e activity in ukraine - these are joint projects of

private-state e-concessions of highways in the concession of bridges-tunnels e-e joint mining production, distribution and joint extraction of e-e minerals, that is, there are a lot of options for how to attract financing. of course , we are working on these tools. results well, here i am. to be honest, mr. prime minister, the word that there are a lot of projects scares me a little. i will explain why. because when there are a lot of projects, it is very difficult to manage them from one center , and then there is a risk that it will be either ineffective or we need to create a lot of different control centers, but they still need to be synchronized with each other, so what is your vision of how it should all be managed by a single center of many smaller centers under the leadership of the european union, the united states, will it lead? well, because

when we talk about everything this is, well, it is difficult to put together in your head, in fact, the same as the sum of 750 billion us dollars, this is some such astronomical figure that no one has ever held in their hands a coordination center we agreed to create in kyiv today, when the planned recovery project was being prepared, such a secretariat was the office of reforms under the cabinet of ministers, but in addition, a national council was created. we will continue this practice , in fact, together with the european commission, the european bank for reconstruction and development, we will expand the office of reforms and transform it into the office of reforms and recovery of ukraine, this is formally a secretariat of the future recovery plan, of course , the offices in brussels, washington, london will help coordinate work with our partners we also agreed on this, of course, when we talk about a lot of projects, today a large part of these projects are described and directly included in the

recovery plan with specific amounts and specific proposals, that is, these specifics are experts and the business environment worked on this competition for leadership in recovery we take away saying that we are all united today in the defense of our country. we will all be united in the restoration of our country, and this is also an important motto that ran through this conference, all partners agreed with that. it is impossible today to compete for who will be the leader of recovery, we will all restore together, and no one will restore ukraine. without ukraine, therefore, of course, such primacy and coordination remains with ukraine, the ukrainian government, ukrainian business, ukrainian society, because of course we will involve not only the government, but also this the amount to be received and invested in restoration is the total amount of restoration that will be invested by communities

, businesses, the government, that is, by all strata of ukrainian society, this money will be invested restoration, i have already made up my mind about this, that when i hear the phrase we all, no one specifically knows it, there is such a saying ukrainian group damn this collective farm is like that when everything is general, it seems that no one feels that this is specifically discussed and created a specific infrastructure of restoration, you me you constantly push me to tell the specific structure it is. it was described and presented right during the presentation, that is, it creates quite a large one. the president of ukraine and the president of the partner countries, the leaders of the countries, the second level and we call it the executive - this is the executive power, the prime ministers and vice presidents of the european commission, the secretaries of state of the united states of america, and the

secretaries of state, ministers of great britain, other partner countries, that is, the executive level what kind of upper level meets once a year there, once every six months, this second executive level works monthly, quarterly, uh, such a board is obtained , or the executive council, then there is the national council recovery that works in 24 directions where where experts are involved where soviet society is involved i.e. there is a lot of preparatory and documentary work including at this basic level the secretariat of all this who formalizes and coordinates there is the office of reform of the recovery of ukraine about the cabinet of ministers separately created such advisory boarding, that is, supervision, well, almost more of a supervisory board and a board of such high- level advisers. baltserovych, that is, such world names, nobel

laureates, who will also gather and generate on a scientific basis a vision of the development of the macro-e-e situation in ukraine, the financial e-e markets and the financial sphere plus the business sphere, that is, all these things. they must also have a sound scientific approach, this is also included in the infrastructure , offices, a key office in kyiv and on the basis of the office of reforms and recovery, we will call it yes, and separately we are creating offices in partner countries, we have already agreed with four countries, this is the united states this is the european commission and this is the united kingdom in london - these are the offices in the partner countries that will help coordinate us with our partners regarding methods and projects and financing, that is, this infrastructure. it will work. i am convinced that it will work concretely very correctly and very specifically, all our partners agreed with this, uh, those with such an

infrastructure and such an approach to coordination. therefore, this is also a concrete result that we achieved and approved at this conference. thank you for this specifics and now we move on to the fact that the marshall plan, as it is called, well, for ukraine, and you know about the recovery, it is actually not so much about money as about reforms and the idea of ​​a restart. here a logical question arises that if we are now members of the candidate eu and in order to obtain full candidacy and membership, more precisely, in the eu, we need to carry out a large number of reforms, will this moment of reproduction of ukraine's restoration be synchronized with european reforms, because it makes sense, obviously, anyway we will have to implement legislation and some norms, economic and infrastructural norms to

european standards, we will do it immediately synchronously, or do we first gild the holes and then we will start thinking about it, of course that the european candidacy of ukraine to the european union has become the main framework of our future recovery plan and of course that the european directives are fully prescribed in each e-e of the directions with each of the 24 directions of our recovery, of course , in the final declaration of lugano, this is included and we we are talking about the fact that this is a framework european directives er and european rules of our future restoration of our future reforms and well, i am not here to add anything. this is really a framework and we will work with it. last in this block of questions is my question that bothers me . and then what is this whole project luhano

conference is luhansk conference i like the way it sounds luhansk conference and with a hint of luhansk what is it and the future recovery plan and this fundraising differs from the united 24 project, what is the difference , are they combined? of ukraine through the internet from private individuals, citizens, from corporations, this is one of the five possible ways of attracting funds, but we are expanding the meaning of this brand, and of course, when we first thought about that's all, we didn't want it to be marshal 2:0's plan. and we wanted it to be a plan for the recovery of ukraine, and

when the president initiated this recovery plan and when he was looking for this name for this recovery plan, we didn't want it to be any name, we wanted it to be joint document, our ukrainian joint document is joint with partners from here and the word united united 24 has a great meaning, there are many of them - these are 24 partner countries - this is the 24th number - this is the 24th year when we want to complete the entire history with the candidate and membership of the european union there there are many more contents that are this 24 hours of work a day and so on and so on that's why the brand is united er 24 it becomes the ukrainian brand of recovery and of course we implement this brand in all directions of our recovery and so today it is primarily a brand of attracting partners and of funds for the restoration

of ukraine in the next steps. i am convinced that this will, in principle, be a brand for the restoration of ukraine, because we say that united and indifence united-indicaver are united in defense, united in restoration, and this is also an interweaving of all these elements of unity to which we call on all partners and which all partners understand because it is possible to defeat the enemy only when we are united, whether in war or in peace without difference , this is an important point on which we emphasize, well, this is a beautiful visionary and i like it very much that we look to the future and we are planning our future right now, because even psychologists , extremely practical conditions, are now recommending to people what keeps people in these difficult times - this is joint planning for the future , what will we do after victory, but we have to to think about how to survive now, because now we have to survive in order to realize all this later, according to the latest statistics of the ministry of finance

, the deficit of the state budget of ukraine has grown by 20% compared to may. for june, it is almost uah 135 billion, thank god, and this deficit is obvious . it will grow. we need to cover this hole with something in order to be able to continue our struggle. how will we cover it in order to survive here and now and not somewhere in the 24th year? important challenges in we are at war, everyone understands that the costs of obtaining e-e of the security and defense sector to finance military expenditures for the purchase of weapons, equipment, ammunition , for payments to our military, to our defenders have increased dramatically. of course, they are the main cost item today. the budget practically refused to finance any capital expenditures today, we provide only e-e financing of the security and defense sector, only

the fulfillment of the social humanitarian e-e mission and the function of the budget plus - this is such an operational restoration of destroyed objects without which it is impossible to continue the life of settlements . that is, today the priority is to finance the budget and the government, of course, attracting these funds today, there are several sources, first of all, it is the state budget, it is filled with taxes, it is gradually increasing, we see business returning to work, thank you for this , by the way, ukrainian business e business of our partners, which is increasing production volumes, we see increasing tax payments, increasing e-e amount for salary payments. that is, we understand that the business is gradually resuming its activity, this helps us to fill a large part of the budget to date, more than 30% of the expenditure part is filled in fact by traditional

methods, the other part, of course, these are the funds raised, these are grants and long-term, not expensive loans from our partners that we receive, and for example for the month of june, we planned to receive 4.5 billion, almost the entire amount received is now working for july, and the conference in lugano also became the basis of additional funds for and for direct financing of the budget and for financing of such state-owned enterprises in the field of energy and for financing of our aravirs for the development of small and medium-sized businesses, that is, this is the second source, the third source is definitely our military bonds, which we place on the markets and are placed in the national bank of ukraine, this also helps us attract e-e additional funds , that is, these are the three main sources of taxes and fees e-e loans and grants from our partners and funds raised from the placement of military bonds, this is that helps us to survive today, to keep

the macroeconomic situation stable, the banking system, er, more or less, i will say, this is how the exchange rate is maintained. the situation surprises the whole world surprises all partners because we really as a country and as an institution are going through these difficult times very confidently. why should we bet on credit expansion ? we will somehow try to manage with the economy to increase this tax part during the war. it is very difficult to survive on its own. of course, the country can survive, but not like that.

it's just that the language would be much, much worse, well, at least three times worse if we waged this war without our partners. that's why we must give credit to our partners. we always thank our partners for such unprecedented and stable support for ukraine. of course, we are working to develop our economy, we have now launched a program to support small and medium-sized businesses, or we understand that this is a large number of jobs, we offer people who are ready to start a business grants from the state in various directions, this includes micro-business, there you can choose any - which field is the key parameter to create one or two additional jobs, this is also the agricultural direction, it is the direction of processing enterprises, there are already larger amounts, more serious, e-e, the size of the business can be in in the region of uah 10 million of investments, the state is ready to provide 70% in the form of non-refundable

guarantees at the first stages for the construction of greenhouses for planting gardens for the establishment of start-ups in the it sphere. that is , all of these are for processing enterprises, as i have already mentioned, all of these areas, of course, we expect that they will create and jobs and will increase the payment of taxes, in addition to this, other mechanisms are cheaper lending, the 579 program, which worked and is working, and we will definitely ensure its operation during the war, because this is what supports our business and enables it uh, to breathe and feel more or less confident in such an uncertain situation, for example, with the fluctuation of bank loan rates. well, this is a scheme that may have started to work and give effect before february 24 and 5 7 9 and state uh, these grants now when war, when we have a terrible shortfall in the budget, the government rolled back to the

previous state, taxes on imports were canceled, these concessions were washed away for the import of imported goods , cars and, again, they returned to all these programs that you are talking about. but will this help the situation when in criticism of us is actually critical the situation with the export of grain, we do not have income from grain exports, we do not have income from our rolled metal production, because a large part of the economy of the territory under occupation has been destroyed, do you not think that now we need to take some extra steps in the economy or maximum liberalization and release everything and all, or on the contrary, what was said about in the first months, the maximum concentration of the transfer, as it is called, to the military rails, when the state acts as a very strict monopolist and controls which orders, where, what, we buy here, we place the order, that is, don't you think it's

rude to say that we need to take some extraordinary steps now and not, uh, test what worked before february 24 well, in fact, the guarantee program is an extremely new program and it did not exist before february 24 it is actually called upon in wartime to support small and medium-sized businesses, e.e., in relation to big business. we actually gave out more than a billion dollars in preferential loans at 0% to our farmers, that is, extra steps are taken , they are narrowly focused on a specific spheres in order to really support our business in specific spheres, it works, you can see it from the results. i want to emphasize that in the last 80 years, the world has not faced such a war as is happening today in ukraine, and there are no ready-made recipes for how to act, what to monopolize the entire state should we release liberalize, that is, now is a very important moment not to make critical mistakes, it is

more important than to make some extra release or extra tightening and then this mistake will be very expensive, the business simply asks for freedom clarity and predictability, it is important to ensure it at any time, in peacetime, in wartime, that is why we cooperate very fruitfully and very closely with business by association, we hear them, we listen to them, and we try to let go of some things to help, we delay some things because it is necessary during the war. i will not be specific now things, well, we all know them, we are all going through this together all over the country, all businesses are going through this together with us, but i want to say that the key tasks today are cheap money and this tool is ready, you don’t need a new tool to engage in a 5 7 9 program under 0%, under 5% loans, loan restructuring is an active tool and it has proven itself effectively and the actions are effective today, it is the cancellation of permits, we canceled about 600

licenses, permits . simplified this component that allows business in various fields to work very simply and not waste time on unnecessary bureaucracy , i.e. licensed and with permits, there are still a very narrow few dozen in the field that really they need it, and well, it’s a weapon, it’s a medicine, that is, something related to the safety of people’s lives, of course, we have completely reduced the number of inspections by actually stopping them, introducing a moratorium, allowing business to breathe and work again. although, on the other hand, control to ensure that business is honest citizens remain with the state, we will never let this go because, in principle, the citizen is the basis of the state, and the state is called to protect the ordinary person, including from unscrupulous unscrupulous businesses like you if there are such cases, unfortunately, they happen, that’s why

we do all these things, uh, tax reduction, we reduced taxes to 2% of turnover, and some businesses switched to this system, used it, uh, of course. we returned taxes and customs fees today, that’s why it’s important that in the first months of the war, we struggled with this psychological shock, which uh, hmm, under which a large part of society and business was under, of course, after canceling taxes, we opened the customs office, this was done in order to completely make the customs office the fastest and most open since we had 100%, before that it was 20%, 100% of the load fell on the western borders, we had to get used to it, we did it today , in principle, all logistics routes, logistics chains have already been worked out, there is no shock, everyone is working normally. and funds for the budget in order

to to pay the salaries of the military in order to purchase weapons, we need them, that is why we are returning to the conditions that existed before the war, we did not worsen them, we just did such things that should have been done together with the parliament. therefore, this is also an important moment in everything the rest of us are working together with business on other steps to liberalize. perhaps there are some additional elements that our entrepreneurs need. thank you prime minister, i hope it will all work. i know you have to run. i had an interview with us today. thank you, mr. volodymyr. thank you, dear

ukrainians . was repeatedly attacked by tatars passed both into the hands of the bolshevik invaders and would have given the german fascists, but kharkiv entered and kept ukraine in his heart then and now kharkiv unconquered since july 16, ukrainian online editions switch to ukrainian in google search for the russian-speaking audience of ukraine publications of ukrainian mass media will appear less often, but

russian fakes more often, how to teach google to be ukrainian and defeat fakes, you need to change the account settings and in the future make searches in ukrainian, scan the qr-code and find out how to change google's settings to ukrainian - protect national interests , we will intercept the defeat, we will win that you are not news , together we are strong, 105 billion hryvnias were printed by the national bank in june to patch up the hole in the budget . march, april and may together. what could be the consequences of such an issue , i.e. money printing, and what are the alternatives to this ? mr. serhiy, i congratulate you. i have a first question. in

june, 105 billion hryvnias had to be printed , why such a large amount, taking into account the fact that compared to march, for example, in june , the economy still felt a little better, absolutely true, this was the maximum amount since the beginning of the war, an increase printing of money by the national bank to support the budget, and if we break it down into reasons, in fact, in june there was one of the very low receipts of foreign aid at the beginning of the month, at the same time, budget revenues for unlike the previous months, they were quite low, this was due to the fact that in the previous months there was still a large margin of safety in the economy, enterprises transferred taxes in advance, the national bank transferred their profits in advance, and so on, this margin of safety began to run out. we don't have the biggest budget deficit at the beginning of the war, and

besides the national bank itself, other sources of its financing will be quite limited, or is there some limit beyond which the national bank will not go beyond the mission conditionally speaking, you will not print more than 150 billion per month, or is it not calculated that way ? the initial plan was so little. we have a picture of mr. serhiy . come back to us. billion hryvnias is the maximum for the entire period of the war and it is almost as much as was printed during all the spring months and as a result of this policy inflation is increasing mr. serhiy is already with us again, so we are with you they talked about whether there is a limit to the issue, the initial

idea was that of the 5 billion us dollars monthly budget deficit during the war, about 4 billion will be covered by our foreign partners and about 1 million us dollars will be covered by the national bank, that is, about 30 billion hryvnias actually needed for this level it would be good to orientate and do everything possible so that this level is not exceeded, but international partners constantly announce some amounts of hundreds of millions of billions of dollars and euros, these are just loans, grants, other the aid that will come later or is not enough, yes , enough has been announced to date, well, we expect that in general, according to the results of the year, it will be possible to receive from international partners 26-28 billion us dollars, in

fact, this amount should be enough to cover most of the needs of the budget however, there is a problem with the inefficiency of receiving these funds. and precisely because of these reasons, there are periods when it is very difficult to cover budget expenditures without commission financing from the national bank. truthfully wrote about the emission. this is not an option. i understand that this is a program column of the national bank, what will happen if it is not stopped. i think that we all perfectly understand that the friend of money leads to a decrease in it. and this will increase the exchange rate, unfortunately, because if the emission of money will take place in such volumes as it was already, for example. well, according to the state statistics and the mission, sorry, this is not the place, inflation in june was already

21.5%. and this is the highest rate in the last six years, that is, you currently have no mechanisms containment of inflation, why, for example, the fact that we are now fixing the exchange rate on the interbank market, fixing the official exchange rate - this is one of the elements of curbing hair removal, but we also perfectly understand that such a policy costs us dearly in terms of reserves. yes, there, for example, in june you were forced to spend 4 billion us dollars in order to get a fixed exchange rate. and actually we also understand that our reserves are not finite .