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Azarov: 80% of IMF’s money will be invested in economy modernization

Posted by the Editor on July 30, 2010


News / 30 July 2010 | 11:05

Azarov: 80% of IMF's money will be invested in economy modernization

Azarov: 80% of IMF’s money will be invested in economy modernization

80% of funds allocated by the IMF to Ukraine the Government will use to stabilize the economic situation in the State and to modernize the national economy. The Prime Minister of Ukraine Mykola Azarov said that in an interview, Cabinet’s press office reported.

We have no plans to send the money to finance the budget deficit – a goal is only about 20% of the total tranche, and 80% will be invested in a major program of modernization of our economy,” Azarov said. He added that special attention would be paid to energy efficiency program.

The Head of Government expressed hope that in 2011 the Cabinet would spend fewer resources on paying off the budget deficit: We want to allocate more funds for the program of development of our country. We have mapped out for ourselves the trajectory, based primarily on the magnitude of the tasks we face.”

According to the Prime Minister, in general the IMF decision on resumption of cooperation with Ukraine, opens great opportunities for cooperation with the World Bank, EBRD and other financial institutions and the European Union.

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