The Minister of Economy: We continue to fall

6 February 2015 14:38  2191063 092038
The Minister of Economy: We continue to fall

Ukraine's economy is going through a rather difficult time, a deep recession and it is the result of the previous government's activity.

This was said by the Minister of Economic Development and Trade of Ukraine Ayvaras Abramavychus to the "24" news channel.

"Last year, the economy fell by 7%. This year we are continuing to fall - the National Bank reserves have significantly reduced, the national currency is also falling, but the new government will do everything to stabilize the situation in the next year" - Abramavychus said.

"Ukraine is in a state of war, and since all investors know about it, Ukraine will not receive significant foreign investments" - the Minister said.

He said that the IMF program would not only help stabilize the situation in the banking sector of Ukraine and restore proper level of the NBU reserves, but also would help restore lost trust in the banking system and the economy.

"We hope for more serious intentions after the next Investment Conference in Support of Ukraine. The date is around April 20," - Abramavychus said.

According to him, foreign investors are looking at Ukraine with great interest, knowing that our current GDP is not for long.

"Everything that the National Bank has been doing for the last 3 days is necessary to eliminate speculation in the "black" market", - the Minister concluded.

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