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Crisis in foreign markets harms Ukraine’s economic growth rates

February 15, 2012, 13:00 UTC+3

The booming prices of gas and the current weather conditions worsened the situation

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KIEV, February 15 (Itar-Tass) —— The preliminary results of the Ukrainian economy’s performance in January have shown that the crisis in the world markets has already caused a negative effect on its growth rates, Prime Minster Nikolai Azarov said at a meeting of the government on Wednesday.

The prime minster said “the booming prices of gas” and the current weather conditions worsened the situation. Azarov said Ukraine should “immediately use the advantages of the national economy” and create the required “safety margin.”

The head of government instructed the ministry of economic development and trade, the finance ministry and the national bank to present their proposals on that issue within a week’s time. Azarov said that Ukraine “needs support at optimal interest rates.” The share of Ukrainian goods in the domestic market should be increased. Also, the prime minister wants greater focus on farming.

He pointed out that the current crisis “will not end tomorrow” and “even experienced fortune-tellers are unable to say for how long it will last.”



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