"The Experiment Always Happens in the Shadows": Key Points From Tymofiy Milovanov's Interview

Ukraine's new economy minister does not believe businesses should be forced out of the shadows, and says a balance must be maintained.

Tymofiy Milovanov gave an interview to NV. TK Media highlights the most interesting statements from the new economy minister.

"Investment in Ukraine must grow many times over. It depends on whether the world and Ukrainians believe that things will now be different. I believed it. But most people are still watching closely. Real change doesn't work that way. You have to take risks, believe, move forward and act. You will never fly to space if you don't believe that it's possible to fly to space. One of the biggest problems in Ukraine's economic development is that we don't believe it's possible to live differently."

Tymofiy Milovanov
Ukraine's Minister of Economy

There are two Ukraines. One is for people with high salaries, whom recruitment companies chase and hunt for, and who are in short supply for employers. And the other, where people earn little. There, unemployment is higher, there are fewer jobs, and they are being cut.

"The world economy moves in cycles, and everyone expects a recession. When it begins, we must be ready to respond flexibly. We need to reform the labor market, economic policy tools, state support, and tax administration".

"If a farmer is getting back on his feet, somewhere he got cash and didn't pay taxes, but because of that he was able to buy another tractor, then maybe that's good? For a business to be created, it needs the opportunity to experiment. And experimentation always happens in the shadows. We need balance".

"It's not companies we need to fight, nor their business models. It is necessary that the rules of the game encourage the development of more successful companies. That is why fighting the shadow economy is not an end in itself. I fight it because it distorts the rules of the game and keeps us from developing economically. At the same time, I understand that a certain part of the shadow economy is normal."