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News / 29 January 2014 | 11:16
Arbuzov: Power keeps control over Ukrainian economy

Arbuzov: Power keeps control over Ukrainian economy


Despite the difficult situation in the country, the President and the government have managed to keep control over the economy and the budget, acting Prime Minister, First Vice Prime Minister of Ukraine Serhiy Arbuzov said, chairing the Cabinet’s meeting.

In particular, he stressed that citizens timely receive payments from the budget: "As of January 27, the Pension Fund paid pensions for nearly 14 million citizens. More than 21 billion UAH were allocated for this purpose during the month. In addition, the State Treasury fully funded state social benefits in January ".

Arbuzov also informed that budget expenditures on benefits to poor families, families with children, payments to disabled children and persons disabled from childhood exceeded 3.4 billion UAH. "People wait for timely payment of pensions and social assistance. Vulnerable people should not become hostages to the political situation," he said.

Acting Prime Minister also drew attention to the fact that the financial and banking system of the country has demonstrated a sufficient safety margin. "Banks are provided with liquidity, the National Bank reliably monitors the situation on the money market , has expanded its presence in the foreign exchange market , and will provide it in the future," he said.

A significant factor of the financial stability of Ukraine was called agreement between the presidents of Ukraine and Russia. "We have already received the first tranche of $ 3 billion and we expect to get soon the second tranche of $ 2 billion," he said.

Commenting on the cooperation with China, acting Prime Minister recalled that recently, with the support of the President of Ukraine, there were signed more than two dozen agreements, memoranda and contracts in the financial, industrial and energy sectors worth multibillion sum.

In addition, according to Arbuzov, government fulfills its international obligations, in particular on gas transit, "Ukraine has confirmed its status as a reliable partner of the European Union in matters of energy supply. Today we are going to consider another important issue of modernizing the transit gas pipeline area of Urengoy-Uzhgorod -Pomary".

He also drew attention to the need to continue to attract foreign investment into the country. However, under political instability, investors usually put their money on the "waiting list". In this regard, Arbuzov instructed the economic development minister, finance minister and revenue and duties minister to intensify dialogue and appropriate measures.

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