To support the annual 5-7% GDP growth, Ukraine must find between three and 4.5 million workers,

said Executive Director of the Center for Economic Recovery, Kyrylo Kryvolap. According to him, by 2030, two million people will have left the labor market due to aging and migration processes. According to the expert, two ways exist to solve the labor shortage problem – to somehow acquire these millions of workers or increase labor productivity. Therefore, the state should encourage Ukrainians to return from abroad and change its migration policy.

About 30% of businesses say that the lack of qualified personnel hinders their development. In the industrial sector, for example, last year, there was one candidate for each vacancy now there are only 0.7 candidates per opening. In response, entrepreneurs are already actively retraining their personnel, working to attract women to “traditionally male” professions and building inclusion. Increasing labor productivity requires significant investment.

“Ukraine’s investment development is hindered by the situation with the rule of law and the business climate, and this also affects the speed of recovery,” Kryvolap summarized.