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  • Prime Minister: Economic upturn, effective governance and human capital development became priorities for Government in 2018
    Information and Communication Department of the Secretariat of the CMU, posted 13 February 2019 11:45

    Economic growth, effective governance, human capital development, rule of law and funding of security sector were priorities for the Government in 2018. This was stated by Prime Minister of Ukraine Volodymyr Groysman during the Governemnt meeting. The report of the Cabinet of Ministers over the past year was one of the agenda item. Presenting its main provisions, the Head of Government stressed that such presentation has become traditional. For three consecutive years, the Government informs the public on time and reports to the Parliament in a timely manner. The current report of the Cabinet of Ministers will also be timely submitted to the Verkhovna Rada of Ukraine.

    According to the Prime Minister, the Government’s  report is not just a list of completed projects, but a peculiar retrospective of changes in Ukraine that resulted in stable economic growth of 12 quarters in a row, slowing inflation and increasing  capital investment. 957 industrial objects were built or reconstructed over the past year.

    "We have a balanced budget policy. The budget deficit last year was 1.7%, the state debt declined to 60.9% of GDP. Foreign currency reserves of the country demonstrate the highest figure in the last 5 years ", Volodymyr Groysman said.

    The essential element of changes is  formation of a favorable business climate. Thus, the Government has abolished more than 700 obsolete regulations that only created barriers to development for entrepreneurs and introduced a risk-oriented approach to the supervisory system. New state construction regulations were put in place. An action plan seek to strengthen the position in the Doing Business World Bank ranking was shaped.

    The Government pays considerable attention to the issue of promoting the Ukrainian product to the world market. By 2018, exports exceeded $ 53 billion, while the EU's share in total foreign trade increased to 43%. Ukrainian producers grasp the opportunities of free trade regimes. Recently, Israel has joined the list of countries with which Ukraine has free trade agreements.

    It is obvious  that promotion of exports also requires retrofitting the customs service. Last year, far-reaching changes in the work of the customs were kicked off, and the # Ukraine without smuggling" initiative was introduced. These steps yielded results: customs payments increased by UAH 53.2 billion over a year.

    The Prime Minister stressed that the policy of strengthening Ukraine's energy independence was of utmost importance. "We do not buy gas from Russia, now we have a diversified fuel system. Thus, we have to develop our own production. The situation with the implementation of the plan raises concern, and we must spare no effort to change the situation, " he said.

    In the context of a renewal of energy policy, the Government has changed the system of subsoil use. Information concerning these deposits is open now, and their classification is based on international standards. In March-April this year the first transparent electronic auctions for obtaining licenses in the field of subsoil use will be conducted.

    The Government's energy efficiency initiatives  are in considerable demand. So, last year the volume of "warm" loans provided to households for the implementation of energy saving projects amounted to UAH 1.1 billion. This year, the Energy Efficiency Fund will start its work. It will become another instrument for introduction of modern technologies of economical and efficient consumption

    "Another overriding issue is the road. I know in what condition are the roads that the state has repaired in recent years. In total it is about 3800 km. And this year we have ambitious tasks, we implemented a number of infrastructure projects and increased our logistics capabilities,"Volodymyr Groysman said.

    The Head of Government drew attention to the government support programs for the agro-industrial complex. Agribusiness bring almost 40% of the country's currency revenues, and last year, agricultural producers have collected a record 70 million tons of harvest for our country. Production support programs was also in request, in particular, cheaper technology, support of livestock, gardening assistance and direct support for farmers. Last year more than 7.5 thousand farms received UAH 764 million as support.

    "New technologies  being applied today in the agricultural sector give us the opportunity to hold leading positions," the Prime Minister underscored.


    Prime Minister: Economic upturn, effective governance and human capital development became priorities for Government in 2018