Ukraine's Public Finances are Stabilized - Ukrainian President's Administration

By Worldwide News Ukraine, PRNE
Tuesday, December 7, 2010

KIEV, Ukraine and LONDON, December 8, 2010 - During the last 6 months the Ukrainian government has managed
to significantly improve the country's financial situation by decreasing the
public debt. This statement was the core message of the First Deputy Head of
Administration for the President of Ukraine Iryna Akimova at the Inside
Ukraine Conference organized by The Economist.

Iryna Akimova stated that the Ukrainian government managed to
stop the growth of the state debt in relation to GDP. It went from being
double last year to only 5% this year. She underlined that such results prove
the correctness of the fiscal policy of the Ukrainian government. GDP of
Ukraine reduced to 15,1% in 2009, it is expected to grow by 5% in 2010.

"We plan to further reduce public debt in 2011", said Akimova.

In 2009, when Ukraine's GDP contracted by 9%, the deficit of
the state budget amounted to 16%, according to Ukraine's Prime Minister
Mykola Azarov. The public debt during the same year had grown by four times.
Every second hryvnia spent by the Government in 2009 was borrowed, according
to the information provided by the Ukrainian Finance Ministry.

Inside Ukraine brought together in London top business
executives and influential thinkers with Ukraine-based business leaders,
politicians and independent commentators for in-depth analysis and debate of
the country's future prospects and its appeal for investment. Among the
expert thinkers were Patrick Van Daele, General Manager, Shell Ukraine
Exploration and Production, and Boris Krasnyansky, Managing Partner,
PricewaterhouseCoopers Ukraine.

For more information, please contact Maryna Khorunzha +380-509151565 news at, Project Manager at Worldwide News Ukraine

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