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Ukraine’s Poroshenko announces strategic reforms

September 25, 2014, 17:23 UTC+3 KIEV
The long-term state program envisages a major overhaul of the country’s governmental machinery by 70% and a flow of direct foreign investment to reach $40 billion in the period 2015-2020
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Ukrainian President Petro Poroshenko

Ukrainian President Petro Poroshenko

© ITAR-TASS/Nikolay Lazarenko

KIEV, September 25. /ITAR-TASS/. Ukraine’s President Petro Poroshenko made public on Thursday a program on reforming the country under a slogan “to create good rules instead of bad ones”.

Poroshenko told a news conference that the strategy of Ukraine’s development until the year 2020 envisaged about 60 reforms which “should be launched almost simultaneously”.

“When we were talking about reforms, we got advice not to start the reforms in all the spheres at the same time but we will do it in another way,” the president said.

The priority tasks are announced as anti-corruption renewal of the power, judicial and tax reforms, strengthening of the defense sector and Ukraine’s energy independence. The leading theme will be “Ukraine’ popularization across the globe.”

The long-term state program envisages a major overhaul of the country’s governmental machinery by 70% and a flow of direct foreign investment to reach $40 billion in the period 2015-2020. The strategic indicators determine that Ukraine is to enter the list of top 20 countries best for business (now 99th on the Forbes list) and its GDP per capita to climb to $16,000 (now $8,500).

Financial aid for Ukraine

Poroshenko said he was hoping to get another $1 billion from the United States and as much from the European Union in additional aid. Poroshenko said he would “do everything in accordance with the law in order to stop the attack on the hryvnia”.

He stated that “prices have dropped, export revenues shrunk, industry in the east has come to a halt and is not exporting anything, and no oneэs investing in the country in the midst of war”.

The president also said it would be necessary to make adjustments in the International Monetary Fund’s program for Ukraine.

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