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Ukraine to stimulate domestic market, improve investment climate

February 28, 2012, 18:22 UTC+3
Ukraine aims to link the education system and the real sector of the economy through modernization of science
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KIEV, February 28 (Itar-Tass) —— Ukraine’s main ways of coping with economic problems are stimulation of the domestic market and creating a climate attractive to investment, Prime Minister Nikolai Azarov said on Tuesday. The premier’s meeting with member of the Academy of Sciences of Ukraine was devoted to “problems of overcoming restraints on the economic growth.”

Ukraine’s premier described the standard ways of fighting the crisis as not normal. He pointed to the situation in a number of European countries where the budget expenditures are decreased, the taxes grow and the social programs are cut down. “We give priority attention to the domestic market and improvement of the investment climate. Much is being done to increase construction,” Azarov said. He mentioned among the existing risks “a heavy load of debts, a high cost of gas and difficulties in getting credits.”

President Viktor Yanukovich held a meeting with the presidium of the Academy of Sciences the other day. He has said modernization of science is one of the most important aspects of innovation in the country’s development. “We aim to link the education system and the real sector of the economy through modernization of science,” Yanukovich said. “There is a need for a technological breakthrough to create conditions for our economy becoming more competitive,” he said.

 

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