Ukraine may regain pre-crisis living standards, incomes in 5-7 years

MOSCOW. March 31 (Interfax) - Ukraine may regain pre-crisis living standards and incomes five to seven years from now, yet the actual time will depend on access to EU structural funds and investment, Ukrainian First Deputy Prime Minister, Economy Minister Yulia Sviridenko said.

"Obviously, if we have [annual] investment of $50 billion to $70 billion, we may grow 7% per year and, of course, our recovery will be faster," the Ukrainian media quoted Sviridenko as saying at Business Dialogues in Kiev on Thursday.

She noted that the Ukrainian economy contracted by approximately 30% last year, and the government was expecting 1% growth in 2023.

It is also important for Ukraine's recovery to bring back most of 7 million people who left, Sviridenko said.

Preliminary estimates show that about 70% are planning to come back, but many won't do that until after the crisis is over, she said.

Security needs to be provided, alongside worthy jobs and salaries in order to bring back refugees or recruit migrants from other countries, Sviridenko said. In her words, the government has not started working on a detailed program of repatriation.