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Archive for June 9th, 2010

Yanukovych: IMF funds to be used to stabilize financial situation in Ukraine

Posted by the Editor on June 9, 2010


News / 9 June 2010 | 17:30

Yanukovych: IMF funds to be used to stabilize financial situation in Ukraine

Yanukovych: IMF funds to be used to stabilize financial situation in Ukraine

Ukrainian President Viktor Yanukovych said at a meeting with visiting Deputy Director of the International Monetary Fund’s European Department Poul Thomsen and IMF Mission Chief in Ukraine Thanos Arvanitis that he praised positive trends in the national economy.

The head of state said that these trends of recent months had been bolstered by the rigid saving of funds and their effective use. “Permanent measures are being taken to increase budgetary revenues and reduce costs for the maintenance of public institutions,” Yanukovych said, UKRINFORM reported.

The president stressed that the state budget for 2010 had been passed with a marginal deficit of 5.6%, as demanded by the IMF. “According to the current budget dynamics, we are confident that the deficit will be smaller,” Yanukovych said.

He assured IMF representatives that if the IMF provides a loan to Ukraine, these funds would not be used to reduce the budget deficit. “We are not planning to use IMF funds to finance the Ukrainian budget. They will be spent to stabilize the financial situation in Ukraine. It’s important, because the stability of the financial situation provides the opportunity for economic development and production,” Yanukovych said.

As reported, the Ukrainian government is negotiating with the IMF about a new program of cooperation, which foresees the allocation of a loan of up to USD 19 billion for two-and-a-half years. However, the negotiations are being delayed.

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Russian Black Sea Fleet to have fewer personnel, better weapons

Posted by the Editor on June 9, 2010


News / 9 June 2010 | 15:47

Russian Black Sea Fleet to have fewer personnel, better weapons

Russian Black Sea Fleet to have fewer personnel, better weapons

Russia’s Black Sea Fleet will deploy fewer personnel but have better weaponry in the future, a senior Russian lawmaker said on Wednesday citing the defense minister.

“The defense minister said the number of Black Sea Fleet personnel … would be fewer than the current 24,000,” said head of the Federation Council’s committee on defense and security Viktor Ozerov, according to RIA Novosti.

“We are certainly interested in new weaponry for the Black Sea Fleet,” Ozerov cited Defense Minister Anatoly Serdyukov as saying at a meeting with lawmakers in the Russian parliament.

Russia and Ukraine recently signed an agreement extending the lease on the Russian Black Sea Fleet base in the Ukrainian port of Sevastopol for 25 years after the current lease expires in 2017.

Russian President Dimitry Medvedev has already instructed the Russian Defense Ministry to prepare a plan for the development of the Sevastopol base, which plays a key role in ensuring Russia’s presence in the Black Sea region and the Mediterranean.

According to some Russian naval sources, the Black Sea Fleet could receive up to four frigates and four diesel-electric submarines in the next five years.

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PM: Real budget deficit in Ukraine is much lower than foreseen in the State Budget 2010

Posted by the Editor on June 9, 2010


News / 9 June 2010 | 13:38

PM: Real budget deficit in Ukraine is much lower than foreseen in the State Budget 2010

PM: Real budget deficit in Ukraine is much lower than foreseen in the State Budget 2010

The real budget deficit in Ukraine is much lower than it is foreseen in the Budget for 2010. Prime Minister Mykola Azarov said this at a public meeting of the Ukrainian Forum “Program of economic reforms: strategies and mechanisms of implementation”.

“We have stabilized budget and financial situation in the country. We have now a situation when the real budget deficit is much smaller than laid down in the Law ‘On the State Budget’. It means that the gap between budget income and expenditure is significantly less than what we have carefully and conservatively planned,” stressed the Prime Minister.

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Russia, Ukraine discuss joint oil, gas production, free trade zone

Posted by the Editor on June 9, 2010


News / 9 June 2010 | 12:36

Russia, Ukraine discuss joint oil, gas production, free trade zone

Russia, Ukraine discuss joint oil, gas production, free trade zone

Ukraine is willing to swap assets with Russia to allow the two countries to cooperate in oil and gas production, Ukrainian President Viktor Yanukovych said at a meeting with Russian Prime Minister Vladimir Putin in Istanbul on Tuesday.

“We could swap some assets with Russia to cooperate in oil and gas production in Russia,” Yanukovych said, RIA Novosti reported. “We would like to see you [Russia] as partners not only in the transit and consumption of gas, but also in co-production.”

He asked Putin to help Ukraine secure loans from Russian banks to finance the construction of two new nuclear power units.

Putin said Russia was ready to draw up regulations on a free trade zone with Ukraine.

“As far as free trade zones are concerned, all we have is a document written on one sheet of paper back in 1992,” he said, adding “it is time to move on.”

Yanukovych said Ukraine had managed to balance its budget thanks to a recent deal guaranteeing a discount on Russia gas prices.

In the deal, signed in May, Russia gave Ukraine a 30% discount for gas supplies in exchange for extending a lease on the Russian Black Sea Fleet base in the Ukrainian port of Sevastopol for 25 years after the current lease expires in 2017.

Putin proposed a merger between Russian gas monopoly Gazprom and Ukrainian Naftogaz on April 30. His spokesman said this meant the creation of a new company and not the absorption of Ukraine’s gas monopoly, as some critics suggested.

Russian President Dmitry Medvedev said the deal would either consist of an asset swap or the establishment of a joint venture. Yanukovych said he agreed to a fifty-fifty deal.

The Ukrainian opposition claims the creation of the joint venture means the de-facto acquisition of Naftogaz by Gazprom and thus the loss of Ukrainian energy independence.

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Yanukovych: Ukraine and Greece are to significantly intensify bilateral relations

Posted by the Editor on June 9, 2010


News / 9 June 2010 | 11:02

Yanukovych: Ukraine and Greece are to significantly intensify bilateral relations

Yanukovych: Ukraine and Greece are to significantly intensify bilateral relations

Commenting on the results of his meeting with President of the Hellenic Republic Karolos Papoulias, held in Athens on June 6, President Viktor Yanukovych told journalists that Ukraine and Greece should significantly strengthen their bilateral relations, in particular, their cooperation in tourism.

“We agreed with the Greek President to greatly intensify our relations. To do that, we need to elaborate a number of agreements at the level of intergovernmental commission,” said Viktor Yanukovych. According to him, having tourism potential, Ukraine is extremely interested in great experience of Greece in this field. “We would like to sign several agreements that would open this way for us,” he said.

In particular, Viktor Yanukovych mentioned introduction of tourist ferry transportation between Ukraine and Greece. “A system, which could improve the quality of tourism and create appropriate conditions for tourists, should be established,” stressed President Yanukovych, adding that the fact that we are to host Euro 2012 Finals could also contribute to the popularity of the project.

Viktor Yanukovych also said that in the nearest future a separate law on Crimea development will be considered. “Today the Autonomous Republic of Crimea significantly lags behind its neighbors in tourism development,” said the President. According to him, there is an urgent need for construction of a bridge connecting the Crimean peninsula and the Krasnodar region of Russia. In President’s view, a new transport corridor will increase a number of tourists visiting Ukraine.

“Crimea is a very interesting region with ancient history, and it certainly must be open to the world. We must discuss all these issues,” concluded the President.

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