Monday, November 29, 2004

Economic situation in Ukraine

This article Lytvyn: the situation in Ukraine is alarming quotes the Rada Speaker Litvyn on the economic situation in Ukraine.

He said that the customs duties and the entry of transport, especially on the Western border of Ukraine, have decreased and export operations are suspended. The situation in Ukraine is alarming, especially in the financial and banking systems, there are mass withdrawals of funds from savings-banks, and the government doesn’t work. The situation can be even worse next year.

More here

The Cabinet of Ministers cannot fulfill its budget liabilities, reported by the First Vice Prime Minister and Minister of Finance, Mykola Azarov, after the end of the meeting of the Council of National Security and Defense of Ukraine, proUA.com reports.

“Looses (sic) of income of the state budget put under doubt the ability of the government to fulfill its liabilities,” said Azarov.

He noted that incomes of the budget decreased because of the events of the last week, and the situation can be corrected by restoring stability only.

“Today we have to state that this week saw a worsening of the economic situation,” said the Minister of Finance.

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