Roman Kachur: Government has a clear plan for financial stability in Ukraine

"Despite the difficult situation, the Government has a clear plan and takes certain measures to stabilize financial situation," said Deputy Minister of Economic Development and Trade of Ukraine, head of staff Roman Kachur at a briefing in the Club of the Cabinet of Ministers on October 7.

According to him, presently we are actively engaged in work with international financial institutions, notably the International Monetary Fund, the World Bank and others.

Roman Kachur expressed hopes the next tranche worth $ 17 billion along the cooperation program with the IMF is due to be transferred in December. By now Ukraine has obtained $ 4 billion 510 million. "Presently we have managed to meet all the requirements that were specified in the cooperation program with the IMF, and we have quite optimistic expectations that the next tranche will be allocated in December, so the program will be completed," he said.

Besides, the Deputy Minister informed that soon the delegation of Ukraine including specialists of the Ministry of Economic Development and Trade would visit Washington for talks with the World Bank to discuss further cooperation prospects (the World Bank allotted $ 1.25 billion along the development policy program to facilitate economic growth).

Also, Roman Kachur informed, by the year’s end it is expected to receive over a billion dollars funding from the EU.

Meanwhile, the Deputy Minister explained, a vital objective of today appears to stir up export and business development. According to him, to follow a commission of the Prime Minister a package of amendments to the law on simplification of doing business is being elaborated, in particular, it stipulates for significant reduction of the amount of licenses and permits.

He informed that in the second quarter GDP had dropped by 4.6%, with descending expected in the third and fourth quarters as well. The decline in economic performance, the Deputy Minister explained, is induced by destabilization of the situation in the East of Ukraine and the annexation of Crimea.