Natalia Jaresko: Ukraine is getting out of the crisis

Ukraine is getting out of the crisis, which was the result of the activity of the previous government, war, the annexation of the Crimea, said  Natalia Jaresko,  Minister of Finance of Ukraine, during the 8th Kyiv Security Forum organized by the Arseniy Yatsenyuk Open Ukraine Foundation.

“We have good and bad news. You know about the bad. But there is a good piece of news – Ukraine I getting out of the crisis, which was the result of incomplete reforms, war, annexation of the Crimea. Now we are gradually but surely overcoming this phase of the crisis,” – said the Minister.

She mentioned that in order to fully overcome the effects of economic decline Ukraine requires general stabilization of the economic situation, improvement of the situation with state debt, reduction of the debt burden on the budget, improvement of the investment climate and attraction of investments, as well as fundamental changes in the business environment.

Additionally N. Jaresko assured that the reforms that are now held by the Government and the team will ensure improvement of the economic situation already in 2016. “By solving the problems of the shadow economy and charging higher taxes on the wealthy, reducing tax pits and smuggling, we can broaden the tax base without having to hit the ordinary citizens. Such a policy of the rule of law, deregulation, which now is carried out, we hope, will result in the visible improvements in 2016 after the dramatic situation of 2015,” –  she said.

The Minister stressed that today the government shows unity in the desire to reform as never before. “I believe that never before one could observe such a commitment to reform in this country. I worked with previous presidents and I am familiar with their policies. I want to say that commitment of the President, Prime Minister, governmental coalition and the Parliament is at the highest level if we talk about reforms,” –  said N. Jaresko. However, she acknowledged that disputes sometimes have a place among the five coalition parties, but after discussion joint decisions on the reforms in the country are accepted: “Yes, a decision that led to the increase of utility charges was made with common understanding of its importance by the coalition”. 

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The annual international event ‘Kyiv Security Forum’, established by the Arseniy Yatsenyuk Open Ukraine Foundation in 2007 is a platform for discussion of the most pressing issues concerning the security in Europe and the Black Sea region. The Forum is aimed at promoting security cooperation between the European Union and the Black Sea Region, raising awareness of the development of security among key players and strengthening the role of independent and non-governmental actors in solving security problems in Europe.