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News of the business school

Mykhailo Kukhar, MIM-Kyiv&rsquo;s professor of macroeconomics and chief economist of the Ukraine Economic Outlook offered his raking of the governmental actions that saved the national economy at the beginning of the wartime. His list features:
<ol>
<li> NBU&rsquo;s launch of the &ldquo;wartime&rdquo; protocols at 9:00 am Kyiv time, on February 24. A hidden shift to backup servers in the western part of Ukraine kept the banking sector operating even in the very first days of the war. Timely solutions such as letting petrol stations and retailers with ATMs to cash cards and correcting exchange rates are among the ultimate successes of the NBU.&nbsp;</li>
<li> Expediated Western border crossing for women and children. Due to the procedure, many women and children left Ukraine without international passports and fathers&rsquo; notarized permissions to take children abroad. Because of this solution, borderline checkpoints were not overcrowded and humanitarian catastrophe was avoided.&nbsp;</li>
<li> Ministry of Infrastructure&rsquo;s development and implementation of the expedited border crossing regime for truckssaved Ukrainian export and enabled volunteers&rsquo; shipments.</li>
<li> Ministry of Economy&rsquo;s petrol crisis management.&nbsp;In the first days of the war, the ministry canceled VAT, and all and all dues, and negotiated the price cap with leading jobbers. It took a month to stabilize prices and deliveries.&nbsp;</li>
<li> Ministry of Digitalization actions aimed at facilitating weaponry deliveryin the first war month. The cryptocurrency fund was established and raised hundreds of millions of dollars. It also helped to purchase military gear without red tape in Ukraine.&nbsp;</li>
<li> Ministry of Infrastructure&rsquo;s successful negotiations of the &ldquo;visa Free&rdquo; cargo transportation with the EU. Due to this regime, Ukrainian businesses rerouted their international logistics from sea to land shipping. It also kept humanitarian relief shipments going.&nbsp;</li>
<li> Sea-borne &ldquo;Grain Corridor&rdquo;, the joint effort of the President&rsquo;s Office, and Ministries of Foreign Affairs, Economy, and Infrastructure allowed Ukrainian agricultural exports thus securing income for the agricultural sector.</li>
<li> Ministry of Economy lending program with low-interest rates and without collateral for retailers&rsquo; chainsenabled the retailers to keep payments and working capital. If not for the program, Ukrainians might have faced a lack of groceries and businesses might have gone bankrupt.</li>
<li> Governmental support program for businesses relocating to the Western part of Ukraine.800 companies suffering from shelling, without resources to relocate received grants for moving to safer regions.</li>
<li> Ministry of Energy, Ukrenergo, and private energy companies joint schedules of urgent power cutting. Due to those scheduled outages, the Ukrainian grid system is still working regardless of the compromising Zaporizhya Nuclear Power Plant work and power grid massive shelling in October.</li>
</ol>
Mykhailo Kukhar mentioned that the list was not exhaustive. He also promised to make up the list of the 10 worst economic steps by the government: &ldquo;I promise to make up two lists &ndash; of the worst solutions and of the business-friendly actions that were not taken.&rdquo;
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MIM-KYIV FACULTY RANKS TOP 10 GOVERNMENTAL ACTIONS THAT KEPT ECONOMY AFLOAT IN WARTIME

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