Azarov: Simulation of the internal market and attractive investment climate will protect Ukraine from the crisis

28.02.2012 16:34 "Agro Perspectiva" (Kyiv) — Prime Minister Mykola Azarov is convinced that the stimulation of the internal market and creation of attractive investment climate will enable Ukraine to be prepared for a possible second wave of financial crisis and ensure sustainable economic growth. He said this during a meeting with scientists of the National Academy of Sciences of Ukraine on the problems of overcoming of economic growth limit. «The policy of stimulating domestic market and creating an attractive investment climate are priority for us. The Government does a lot to activate construction in Ukraine. Today I would like to hear from representatives of science, what else should we do so that our economy not only survives during the second wave of global economic crisis, but also continues growing,» the Prime Minister noted. However, he stressed that there are standard solutions to leading the country out of economic crisis, which currently are used by European countries. «In terms of standard solutions, we see them. This is a tough cut spending, raise taxes, reduce social benefits — these are recipes that are now being implemented in Spain, Portugal, Greece, but the results of these actions are not felt,» Mykola Azarov said. But he stressed that those standard solutions are unacceptable for Ukraine. According to the Prime Minister, now there are some risks to economy of the state, but they are all taken into account in economic policy of the Government. «Of course, there are certain risks, and we not diminish them. These are high debt load, high gas prices, unfavorable global environment and closed financial market. There are risks and not a few. But these risks are taken into account in our economic policy»- he said. Mykola Azarov noted that due to government policy it was managed to finish last year with good indicators of economic growth, including GDP growth reached 5.2%. «This is the result of efforts in carrying out reforms in modernizing the economy, fiscal discipline. It is obviously that the tax, fiscal and administrative reforms, deregulation and other transformation help to ensure this growth» — the Prime Minister said. In this connection he said that within two years of deregulation policy Government canceled over 50 000 regulative acts and over 70% kinds of licensed activity and, besides, introduced the declarative principle of entrepreneurship activity beginning.

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