The number of Economic Development and Trade Ministry of Ukraine employees will be cut by half by the end of 2015, Minister of Economic Development and Trade Aivaras Abromavicius said during the public report on the government's 100 days of work in Kyiv on Thursday.

He said that 30% of the staff would be cut in a month and a half; another 20%– would be laid off by autumn.

Abromavicius also said that the most important task, deregulation, would be implemented simultaneously, saying it will allow business to "breathe" freely.

The minister said that the number of functions performed by his ministry would be reduced as well.

"247 functions is surely a nightmare," he said.

Abromavicius added that Economic Development and Trade Ministry was going to actively recruit new employees.

"One can't do anything with old staff," the minister said.

According to him, the Economic Development and Trade Ministry will prepare state-run enterprises for privatization.