president_meets_imf_representatives.jpg9 June 2010, Kyiv: President Viktor Yanukovych met with Deputy Director of the IMF European Department Poul Thomsen and Chief of the IMF Mission to Ukraine Athanasios Arvanitis.

Welcoming the IMF representatives in Ukraine, President Yanukovych thanked them for coming to Kyiv to jointly examine the situation in the country and make necessary decisions.

president_meets_imf_representatives.jpg9 June 2010, Kyiv: President Viktor Yanukovych met with Deputy Director of the IMF European Department Poul Thomsen and Chief of the IMF Mission to Ukraine Athanasios Arvanitis.

Welcoming the IMF representatives in Ukraine, President Yanukovych thanked them for coming to Kyiv to jointly examine the situation in the country and make necessary decisions.

president_meets_imf_representatives.jpg9 June 2010, Kyiv: President Viktor Yanukovych met with Deputy Director of the IMF European Department Poul Thomsen and Chief of the IMF Mission to Ukraine Athanasios Arvanitis.

Welcoming the IMF representatives in Ukraine, President Yanukovych thanked them for coming to Kyiv to jointly examine the situation in the country and make necessary decisions.

Viktor Yanukovych told the representatives of the IMF that he closely follows the situation in Ukrainian finance and economy and pointed to recent growth of GDP, industrial production, etc.. "Budget revenues have increased by 8.8% during last five months," he said.

According to the President, these positive trends are i.a. caused by strict saving of financial resources and their effective use. "We constantly work on increasing budget revenues and reducing the costs of public institutions," said Viktor Yanukovych. As an example, he informed that Presidential Administration staff was reduced by 20%.

Viktor Yanukovych also said that the current government managed to adopt 2010 State Budget with a marginal deficit of 5.6%, as the Fund had required, and expressed hope that actual deficit would turn out to be even smaller.

Also, Viktor Yanukovych informed the IMF representatives on the situation in Naftogaz of Ukraine. According to him, company’s finances are now well balanced and it makes payments for gas to Gazprom independently and without taking any loans. He informed that the final financial plan of Naftogaz of Ukraine would be approved in June, and expressed confidence that then, the enterprise would be able to start repaying debts.  

Yet, Viktor Yanukovych stressed, there are issues that still remain to be solved. "There are still issues that we identified in the Program of Economic Reforms initiated by me," he said, adding that by the end of its current session, the Verkhovna Rada of Ukraine will adopt several laws to regulate functioning of the National Bank of Ukraine. Soon, he also said, he would sign the Public Procurement Bill, already approved by the Parliament.

Besides, Viktor Yanukovych expressed hope that by July 10 the Verkhovna Rada would adopt the new Budget Code.

President Yanukovych said that Prime Minister Mykola Azarov is also ready to receive the representatives of the IMF and would tell them in detail about plans of the Government until the end of 2010. "Current positive dynamics in the financial sector will certainly contribute to implementation of Ukraine`s commitments to the IMF," said Viktor Yanukovych.

The President assured the guests that if the IMF provides funds for Ukraine, these funds would never be used to reduce the budget deficit. "They will be used to stabilize financial situation in Ukraine. This is very important as sustainability of financial situation facilitates development of the economy and increasing production," he said.

From his part, Deputy Director Poul Thomsen said that current economic recovery and growing budget revenues are good signs. 

Information and photo are provided by: http://www.president.gov.ua/en/news/17344.html