The national economy can develop at a record pace – Yushchenko

10:42, 23 March 2006
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President assures that the economy will be stable after elections.

In an interview with journalists in Ternopil, Victor Yushchenko said Ukraine’s economy could develop "at a record pace." He reminded them that this year the GDP rate had grown by 1.5%, according to the President’s press-office.

“I think this will help us have Ukraine`s greatest economic growth in 2006,” he said.

Mr. Yushchenko opined that a developing economy was a necessary condition to create new jobs and reiterated that the government had created 1. 149 mln jobs in 2005.

“This year we will have to overcome the same bar,” he said.

The Chief of State assured the nation that the economy and inflation would be stable after elections.

“There are no reasons for currency and price instability,” he said. “Inflation occurs when there is a budget deficit. Then we print more money but there are no new goods and it makes prices grow,” he explained, reminding his interviewers that this year’s budget deficit is only 1.2%. “This deficit is excellent for our transition economy.”

Then the President said his team “knows how to ensure economic growth.” 

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