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New agreements with Russia create conditions for industrial production growth in Ukraine

December 26, 2013, 19:38 UTC+3 KIEV
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KIEV, December 26. /ITAR-TASS/. Ukrainian President Viktor Yanukovich said on Thursday that the foundations of Ukraine’s macro-economic stability would be laid down in 2014.

“New agreements with Russia have created conditions for industrial production growth while the agro-industrial sector will remain the driving force of our economy,” the Ukrainian president told a meeting of the Council of Regions.

Yanukovich stressed the need to find effective ways of using financial resources, which Russia had granted to Ukraine.

“It is necessary to use these opportunities and find effective ways of using these resources,” Yanukovich said.

The president warned the cabinet members and Prime Minister Nikolai Azarov about personal responsibility for disrupting the two-year contracts.

“You will be held personally responsible for any disruption in implementing these contracts and projects,” Yanukovich said. He told Prime Minister Nikolai Azarov that he should appoint a person responsible for implementing each of the contracts.

Yanukovich said that Ukraine had met all its financial commitments to the IMF in 2013 and would continue talks with the European Union.

“We have managed to stabilize the economic situation and the financial system by yearend and create conditions for economic growth in 2014. Despite all the criticism, this is our achievement,” Yanukovich said, adding that the macroeconomic stability would be preserved next year.

“The inflation remains low and the hrynvia rate is stable despite some minor fluctuations,” the Ukrainian president said.

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