After a span of half a decade, Ukraine recently encountered a transition in political power. The Verkhovna Rada, Ukraine’s Parliament, sanctioned the proposal of Yulia Svyrydenko as the nation’s new Prime Minister on July 17. This political change was ignited by Ukraine’s President, Volodymyr Zelenskyy, when he nominated her for the Prime Ministerial post on July 14, signalling a long-anticipated wartime cabinet makeover.
Yulia Svyrydenko came into power replacing Denys Shmyhal who had been holding the Prime Minister’s position since 2020. Responsible for the country’s economic and military progression, Yulia, a seasoned economist and technocrat, is poised to rejuvenate Ukraine’s economy. She is also expected to spearhead the evolution of Ukraine’s military forces as the country grapples with wartime crisis.
Prior to her induction as the Prime Minister, Yulia held the office of the first Deputy Prime Minister, where she was responsible for managing the Economic Development and Trade ministry since November 4, 2021. Her political journey has been marked with several accomplishments and rigorous commitment to the different roles she has held.
Svyrydenko was born on December 25, 1985, in Chernihiv, Ukraine, part of the former Ukrainian SSR under the Soviet Union. After acquiring a master’s degree in Antitrust Field Management from Kyiv National University of Trade and Economics in 2008, she dabbled in the private sector as an economist, collaborating in a Ukrainian-Andorran joint venture named JSC AMP.
Subsequently, in 2011, Yulia redirected her professional expertise towards the public sector, commencing her public service as a representative for Chernihiv in Wuxi, China. As her knowledge and skills progressed, so did her traction in the public administration sphere, gaining her progressively critical roles starting from 2015.
Yulia’s involvement in public administration began as an advisor to the Governor of Chernihiv. She later ascended to the position of Head of the Department of Economic Development in the Chernihiv Oblast. Subsequently, she briefly functioned as the head of the Regional State Administration of the Oblast from July 30 to November 28, 2018. These roles paved her way towards her imminent association with President Zelenskyy’s administration in 2020.
In May of the same year, President Zelenskyy entrusted her with the responsibility of representing Ukraine in the Trilateral Contact Group’s social and economic subgroup. This body consists of representatives from Russia, Ukraine, and the Organization for Security and Co-operation in Europe.
December of 2020 marked another leap in Yulia’s political journey when she was appointed Deputy Head of the Office of the President, taking over from Yuliya Kovaliv. Roughly a year later, she was appointed as the first Deputy Prime Minister and Minister of Economic Development and Trade on November 4, 2021, with the backing of 256 lawmakers.
Acquiring her new designation, just a few months prior to Russia’s invasion of Ukraine, she was assigned the herculean task of resurrecting Ukraine’s wartime economy and ensuring the country’s development amidst a crisis. Her role included high-stakes negotiations with then U.S President Donald Trump regarding Ukraine’s mineral resources, at a critical juncture when the rapport between President Trump and President Zelenskyy was strained.
These negotiations brought forth the United States-Ukraine Reinvestment Fund agreement, signed on April 30. The agreement bestows preferential access to the U.S for Ukraine’s minerals and other natural resources. Additionally, it necessitates the establishment of a reconstruction fund, which Ukraine must furnish with 50% of all future profits from natural resources.
Further adding to her achievements, Yulia Svyrydenko led the 4th Ukraine Recovery Conference held in Rome during July 10 and 11. It was here that she finalized agreements with partners for projects related to economic development, with a total valuation of approximately €11 billion.
The transition of Yulia Svyrydenko to the Prime Ministerial office was ratified by the Verkhova Rada on July 17, with 262 out of the 450 members casting their vote in her favor. She steps into this crucial role amide economic turmoil, as seen in the $19 billion budget gap she inherits.
Being an economist herself, she has outlined her focus areas which include auditing public finances, expediting the process of privatisation, fiscal reforms, and business support. She also plans to cut down on bureaucracy and unnecessary expenditures. In addition, military strengthening is a key objective in her leadership vision.
The President has set the goal of manufacturing 50% of Ukraine’s required military equipment domestically over the next six months, a goal that the new Prime Minister echoes. Yulia Svyrydenko also prioritizes fortifying the nation’s armed forces and nurturing stronger alliances with countries like the U.S.
Simultaneously, Ukraine’s largest government revamp since Russia’s invasion three years ago has seen various other changes. However, objections have been raised by Opposition lawmakers over the cabinet’s apparent favoritism towards the President’s allies. In this regard, figures like former Prime Minister Denys Shmyhal and Deputy ministers Oleksiy Sobolev and Taras Kachka have been assigned fresh roles, including that of Defence Minister, ministers for economy, environment and agriculture, and Deputy Prime Minister for European integration respectively. Svitlana Hrynchuk has assumed the post of Energy Minister while former Justice Minister Olga Stefanishyna has been appointed as Ukraine’s new ambassador to the US.
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