Economic expert Oleh Pendzyn discusses measures to put Ukraine's economy on a "war footing," including consolidating public finances, freezing social standards, limiting imports to critical goods only, creating labor armies, and restricting consumption in society.

To mobilize 450,000 additional people and put the economy on a 'war footing,' it is necessary to consolidate public finances and focus society and the economy on meeting military objectives.

In 2023, Ukraine's trade balance was minus USD 36-37 billion.

Before the war, Ukraine had about 18 million people who were characterized as labor resources and were of working age. Now, according to various estimates, Ukraine has 12.5-13.5 million.

Out of these millions, there are 6.5 million who work in business, and 3 million state employees, including military personnel.

Today, about 9.5 million people pay taxes, including personal income taxes.

In December 2023, President Volodymyr Zelensky said that the military had proposed to him at the Supreme Commander-in-Chief's Headquarters to mobilize 450-500,000 people.

Mobilization in this format would cost Ukraine an additional UAH 500 billion.

Ukraine is developing a plan to obtain necessary funds and cover the budget deficit if US financial assistance is blocked, involving expanding domestic bond sales, raising taxes, and cutting spending.

Ukrainian officials are due to propose this plan to the IMF during a three-day visit of its staff to Kyiv.

The finance ministry and central bank believe there is a risk that the IMF’s board won’t approve the next loan disbursement without the fiscal plan if US funds are still blocked.

Umerov and Syrskyi discussed improving the quality of military training, addressing needs of training centers, preparing new instructors, and a newly created branch dedicated to drones

Vitali Klitschko said he trusts authorities will provide explanations for the changes in military leadership