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Azarov: Ukraine’s economy will reach the pre-crisis level in 2012

Posted by the Editor on December 28, 2010


News / 28 December 2010 | 14:31

Azarov: Ukraine’s economy will reach the pre-crisis level in 2012

The Prime Minister of Ukraine Mykola Azarov predicts the output of economy of Ukraine on pre-crisis level in 2012. The Head of the Government said that at the end-of-year press conference, Cabinet’s press office reported.

He said the crisis could not be eliminated in one year. “We lost 15% of indicators. This year we will catch up about five percent. We will have to catch up ten more… if it develops in the optimistic scenario, than in 2011 growth will be 6%. That means in 2012 finally we would come up on the indexes of pre-crisis year,” Mykola Azarov said. The Prime Minister recalled that in next year’s budget previews GDP growth of 4.5% forecast.

The Head of the Government stressed that the lost for Ukrainian economy growth rates is the result of unprofessional and populist activities of the previous government.

Besides that, Mykola Azarov noted that 2011 would be very difficult for Ukraine: “The year will be difficult. We are to pay only debts of almost 90 billion UAH. This is a gigantic amount. However, according to Mykola Azarov, 2011 will be the last year, when “our government bears such a huge debt burden.” “Already in 2012 it will be much easier. First, because we are reducing the budget deficit from 5% to 3%. We are reducing the pension fund deficit. By the way it is quite expensive. That means we do everything to live according the possibilities and not to tell people tales,” the Prime Minister said and added: “2011 is the year of stabilization and getting out of the crisis, in 2012 and subsequent years no doubt will be better.”

According to him, if there is optimistic scenario, the Government will undertake increasing of incorporated in the state budget-2011 social standards.

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