FINANCIAL INSTRUMENTS OF ACCELERATING REINTEGRATION OF THE OCCUPIED TERRITORIES OF THE DONBAS
The armed military aggression of Russia has led to serious human and material losses, which Ukraine continues to carry out daily from 2014. Given the scale of the problem, it can be solved only by the state with budget funds with the involvement of private and international partners. So if the task...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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National Institute for Strategic Studies
2018-04-01
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| Series: | Стратегічна панорама |
| Subjects: | |
| Online Access: | https://niss-panorama.com/index.php/journal/article/view/72 |
| Summary: | The armed military aggression of Russia has led to serious human and material losses, which Ukraine continues to carry out daily from 2014. Given the scale of the problem, it can be solved only by the state with budget funds with the involvement of private and international partners. So if the task of politicians is to organize the process, then scientifically grounded work of financiers can significantly accelerate it. It is positive that, however with some delay, the strategic vision of restoring peace and IDPs’ supporting policy has been well-formed at the national level. In addition to already implemented general and special financial instruments for accelerating the reintegration of the occupied territories of Donbas to the potential future can be offered the following: restoration of the banking system in the liberated territories; preservation and strengthening of sanctions on the Russian Federation as an aggressor country, carrying out a financial assessment of the real and potential losses from hybrid warfare for claims in international judicial jurisdictions in order to obtain reparations; creation of safe conditions for payment of arrears of pensions; maintaining a high level of expenditures of the State Budget of Ukraine in the amount of not less than 5 % of GDP for ensuring the national security and defense of Ukraine; introduction of ecological programs for the restoration of the environment of the affected region; intensification of mine clearance activities of the liberated territories; the introduction in future of the special economic zones “Crimea” and “Donbas” at the liberated territories with a number of tax and customs credits. Given the limited resources available, the systematization of already implemented and future instruments of state support by different authorities for affected citizens and the region provides their full-fledged picture. Despite the wide list of special tools, their funding remains insufficient as regards the losses from hybrid war started by the Russian Federation. A scientific discussion on the feasibility, composition and mechanisms for implementing new financial instruments will make the process of future reintegration of the occupied territories more politically and economically secured. |
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| ISSN: | 2616-9460 2616-891X |