Yanukovych: Reforms stimulate GDP growth in 2013 to 3.4%
2013-02-15 15:13:06
The further promotion of reforms in Ukraine and their stimulating effect on economic development help predict the pace of real GDP growth in 2013 at 3.4%.
Ukrainian President Viktor Yanukovych said this in an interview with the magazine "Ukraine and the World in 2013. Global Agenda," the presidential press service reported.
"Economic growth is to be preserved in Ukraine this year, while many countries expect recession. We hope to maintain positive trends in 2013, despite all possible external challenges," Yanukovych said.
He noted that Ukraine was constantly studying the situation in the world and looking for protective mechanisms for the domestic economy. In particular, much attention is being paid to maintaining stability in the macro-financial sphere.
The Ukrainian president said that an important factor in minimizing the negative effects of the global crisis was the growth in domestic demand and the increasing resistance of the national economy to external risks by stimulating business activity and introducing reforms.
"International experience and, above all, the experience of our closest neighbors, indicates that only a modernized economy can ensure stable pace of growth," Yanukovych said. He recalled that the economic reform program until 2014 was being implemented for this purpose.
Yanukovych said that during modernization and economic reforms the focus would be primarily placed on the creation of conditions for economic growth by keeping inflation low, ensuring the sustainability of public finances, creating a stable financial system, forming the regime promoting business activity and modernizing infrastructure and basic economic sectors. "The state will also develop human capital by increasing the effectiveness of social services, improving the quality and availability of education, medical services, civil service reform and the executive branch of government," he added.
In addition, the president said that in order to stimulate its economic activity, since 2011 Ukraine has conducted a consistent policy of reducing the tax burden on business entities. According to Yanukovych, a reduction in Ukraine in income tax rate by two percentage points helps increasing by more than UAH 5 billion per year the funds that are available to businesses. "This is an additional resource that can be used for the expansion and modernization of production and an increase in the number of jobs, which is especially important amid unfavorable economic conditions," he said.