The government has reduced the debt on VAT refunds from UAH 22 billion to UAH 15 billion, that on income tax overpayments to UAH 24 billion and set the task to speed up the solution to this problem, Prime Minister of Ukraine Arseniy Yatseniuk has said.

"We are working to maximally increase the amount [of VAT refunds] and repay our debts to you by the end of the year," he said at a meeting of the Council of Exporters in Kyiv.

"As for overpayments, we are seeking ways with our Western partners, primarily with the International Monetary Fund (IMF), how to repay debts to each of your companies," Yatseniuk said.