To guarantee the planned GDP growth, Ukraine needs 4.5 million more workers - Ministry of Economy

The staff shortage in Ukraine has a significant impact on the economy today and, according to the government's forecast, will continue to do so in the future. This was reported by UNN with reference to the Ministry of Economy.

Details

At a meeting with representatives of the International Monetary Fund, Ukraine's Deputy Economy Minister Tetyana Berezhna said that Ukraine needs several million workers to sustain GDP growth.

According to preliminary estimates, we need 4.5 million additional employees to ensure annual growth of the GSP by 7% until 2030

According to her, in 2021, the official labor market covered 11.5 million workers, when in 2023 the figure decreased to 9 million officially employed Ukrainians.

To address the problem of structural unemployment, the government helps people adapt to changes in labor market demand. In particular, by offering training programs or professional development courses to learn new professions that are in demand on the market

It is also noted that work is currently being finalized on the text of the modernization of labor legislation, according to which the situation on the labor market should improve.

Addendum

At the same time, First Deputy Minister of Economy Oleksiy Sobolev noted that Ukraine's GDP grew by 4.1% over the past six months. According to him, GDP growth is expected to reach 3.5% in 2024.

As for the macroeconomic forecasts for 2025-2027, the baseline scenario recently approved by the government takes into account both security factors and other factors, some of which stem from the security situation

Recall

The Ministry of Economy reported that in June 2024 Ukraine's GDP increased by 1.1% compared to June of the previous year. In general, for the first six months of the year, GDP growth is estimated at 4.1% compared to the same period last year.