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Ukraine stabilized economic situation by late 2013, President says

26-12-2013 16:47

Ukraine has managed to stabilize economic situation by the end of 2013, President Viktor Yanukovych said at the meeting of the Council of Regions on Thursday.

"We succeeded in stabilizing economic situation in the year-end, in ensuring stability of the financial system, budget balance, creating conditions for economic growth in the next year. I believe this to be our achievement in spite of all the criticism, which we hear now," he said. The President stressed that macro-financial stability is preserved in Ukraine. "Inflation remains low. Throughout 2013 the average exchange rate of Ukrainian hryvnia to American dollar was almost stable and fluctuated within moderate borders," he said. "Despite the recession, some industries, oriented on the domestic market, are showing growth. Retail trade turnover in January-November of this year compared with the same period last year increased by 9%," he said. The President stressed that agricultural sector makes significant positive contribution to GDP dynamics. "The agricultural sector remains the economic powerhouse of Ukraine. Production for 11 months increased by 12%," Yanukovych said.