Natalie Yaresko: If we stop the decline this year, in 2016 we can expect active growth

Finance Minister Natalie Yaresko noted in an interview with the TSN-Week that the budget deficit in 2015 was planned in the amount of UAH 65 billion, and it is less than last year.

According to the Minister, Ukraine fulfils all the commitments despite the difficult situation within the country, notably, the illegal annexation of Crimea, war, which resulted into a 20% loss of the Ukraine’s economy.

Natalie Yaresko stressed that Ukraine continues to provide electricity, gas and heat to the occupied territories, without receiving any payment for it, which leads to losses worth about USD 1 billion per season.

Natalie Yaresko assured that everything possible would be done to stabilize the situation in Ukraine and to convince the foreign partners in the effectiveness of the reforms, "The country is waiting for the time to negotiate with the partners, to prove that our reforms we started in 2014 continue in this as well, they are real, that they will enable us to stabilize the country, so that we could say to our citizens and our partners that the situation is changing. We will do everything to change it. And having financial support of our partners, I am sure, we will cope with our external debt".

Presently there are held negotiations with the IMF, which prolonged their work in Kyiv until January29. According to the Finance Minister, these negotiations are complex, "They are difficult, as the world, obviously, would like to see that we have reduced our expenses, especially social ones, more than all that has been done. They would like to see, for example, raising utility tariffs. We also want it because it is an economically correct approach". Moreover, Natalie Yaresko noted that instead of financial support for NJSC Naftogaz of Ukraine the Government plans transition to a target social support for those population layers who really need it, as a result of growth of tariffs for housing and communal services.

In addition, Natalie Yaresko stressed that the IMF want to see the anti-corruption law package in action, and not just on paper. Moreover, Ukrainians want the same.

At the end of the interview, the Finance Minister said that on condition of our successful work this year, the next year should bring success, "I think if we stabilise, stop the decline this year, if we are successful this year, then in 2016 we can expect active growth. This is what I’m striving for."