Ukraine should focus on increasing labor productivity - World Bank.

The World Bank urges Ukraine to improve labor productivity

The World Bank's Director of Operations Anna Bjerde stated that Ukraine should concentrate on increasing labor productivity to ensure growth and enhance its competitiveness. She expressed her opinion during a conference in Kyiv, where she emphasized that a growing economy creates new jobs. The World Bank Director noted that the sectors that will be important in the future will differ from those that mattered in the past, and accordingly, skills will also change. She highlighted the significance of changing economic geography and effective capital allocation. Anna Bjerde also noted that Ukraine could gain significant advantages from integration into the European Union, particularly access to their market. According to her, for successful development, Ukraine needs to strengthen economic institutions and work on innovations and the implementation of digital technologies.