President Yanukovych: Economic growth depends on export development
2012-02-17 12:04:46
The Ukrainian economy will be able grow only if export development is ensured, President Viktor Yanukovych said Thursday in Kremenchuk, Poltava region.
"In 2011 the economic growth was 5.2%, but 90% of this figure amounted to export," he said, the president's press office reported.
Yanukovych also expressed confidence that Ukraine should increase the added value of own products by deepening the processing and releasing large volumes of finished products.
The president noted that Ukraine is able to produce quality products using modern technology, "but we must be able and advertise products, because only then will could sell them".
The president also drew attention to the enormous investment potential of Ukraine, which can be implemented effectively only when the innovation and investment model of economic development is provided.
As reported, the negative foreign trade balance of Ukraine in 2011 totaled USD 6.7 billion, USD 3.7 billion more than the trade "minus" of the previous year. Thus, according to the State Statistic Service, the trade deficit rose by 2.2 times.