Economic stimulation program will offset losses accumulated in Ukraine since year's start, says president

09:22, 03.04.2013 1 min read

The implementation of the Economic Development Stimulation Program for 2013-2014 in Ukraine will help offset economic losses accumulated since the beginning of the year, according to Ukrainian President Viktor Yanukovych.

"Planned measures to boost the economy will certainly offset those losses we have already incurred this year, since its start," the president said at a meeting of the Committee on Economic Reforms in Kyiv on Tuesday.

Speaking about the current economic situation, the president in particular noted that Ukraine had been increasing domestic trade for the second year in a row by improving households' ability to pay.

In addition, he said, there are an increase in individuals' bank deposits and a foreign trade surplus.

"And it also gives us hope that we'll be able to at least maintain our reserves. And it's of course better to improve them," the president said.

Thus, the president added, the economic growth issue remains important.