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Jaresko: Ukraine withdrawing from crisis phase
29.05.2015 19:36 "Agro Perspectiva" (Kyiv) —
The Ukrainian Government is still waiting for the country’s economic growth to resume by 2016, and believes the worst of crisis has passed, NRCU says referring to the Ukrainian Finance Minister Natalia Jaresko today report at the 8th Kyiv Security Forum.
«We are gradually, but confidently, withdrawing from the crisis phase,» Yaresko admitted.
Besides, she emphasized that the top priorities of the Government are macro-stabilization, settling of the debt issue thanks to restructuring, attracting investment, and the fundamental improvement of the business environment.
Also, she said that the new Extended Fund Facility (EFF) with the International Monetary Fund (IMF) has doubled reserves and stabilizes the hryvnia exchange rate.
As to her, the size of the debt remains too large and the Government does not plan to shift the problem to future generations and has proposed that private creditors should reduce the debt and credit rates.
«Negotiations with private creditors are very hard,» she said.
However, she admitted that Ukraine’s plans are supported by the IMF, the United States, and by other partners.
Besides, while commenting on the investment, Jaresko said the Ukrainian Finance Ministry had set the task of starting investment attraction from H2 2015. She added that by Sept 2015 a draft radical reform of taxes aimed at expanding the taxation base is due to be announced which will be aimed at withdrawing of the economy from the shadows, increasing the tax burden on rich people, and liquidating of the tax loopholes and smuggling.
Besides, Jaresko admitted that from Oct 1, 2015 Ukrainian royalty policy will also be changed.
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