Novak's economic forecast Full Council questioning

Oct 2

The full Government Hour opens with Matviyenko identifying the 2027–2029 forecast as the budget's basis. Novak describes slowing current growth, inflation and labour constraints, forecasts recovery and explains the government's structural-change programme. He discusses investment financing and property certainty, productivity and staffing, small technology firms, SME infrastructure, platform regulation and creative industries. Complete questions and answers cover Far East manufacturing preferences; differentiated creative-cluster criteria; refinery modernization, protection, four overnight attacks and fuel supply; workforce statistics and consensual overtime; investment predictability; and major-company debts to SME suppliers. Borshchyov's refinery proposals remain proposals: Novak promises deadline flexibility without expressly accepting every date or tax coefficient. His no-equipment-damage attack claim is qualified by assessment continuing at one plant. Senators also request retired miners' coal rations, review farm fuel and harvest figures, and seek grain-shipping aid. Matviyenko's favorable economic assessment remains hers. The Council adopts its draft resolution only as a basis, asks for amendments and plans final consideration October 14. No final resolution, promised future growth or all proposed regulatory changes is established. An anomalous staffing-demand unit in both transcripts remains unresolved rather than corrected by inference.

Novak presents the government's budget-linked forecast: GDP growth around 0.6% in 2026, 1.4% in 2027 and 2.4% in 2029, with the economy 6.4% larger than in 2025 by 2029. He describes inflation, tight monetary conditions and workforce shortages, forecasts rising real incomes and wages, and commits to structural changes and a regional section to be approved by November 1. Forecasts and official resilience claims are not verified outcomes.