U.S. Treasury Secretary Scott Bessent stated during congressional hearings that in two decades, Ukraine’s economy has the potential to outpace that of the Russian Federation. According to him, long-term economic stability will be a key factor in protecting Ukraine from new aggression by Russia, a sentiment also supported by U.S. President Donald Trump.
This is reported by Бізнес • Медіа
U.S. Investments and Recovery Prospects
Bessent emphasized that national security and economic security are inextricably linked. To accelerate Ukraine’s economic growth, the Trump administration is actively preparing to launch a U.S.-Ukrainian investment fund focused on the country’s recovery. The Secretary also announced a large-scale conference in Rome to discuss issues related to Ukraine’s reconstruction.
Reconstruction Exclusively with Allies
Bessent stressed that countries that aided Russia in its war against Ukraine will not be allowed to participate in the process of rebuilding Ukrainian infrastructure. The Secretary pointedly remarked:
“You cannot destroy a country, kill people, ruin lives, and then receive money for its restoration”
According to the latest data from the World Bank, Ukraine is currently ranked 57th among the largest economies in the world. In 2023, the country’s gross domestic product grew by 5.3%, reaching $178.8 billion. Meanwhile, the Russian economy, ranked 11th globally, was 11 times larger in 2023, with a GDP of $2.021 trillion.