Yanukovych: Ukraine has emerged from economic crisis

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July 30, 2012, 7:14 p.m. | Politics — by Interfax-Ukraine

Ukrainian President and honorary head of the Regions Party Viktor Yanukovych

Ukrainian President and honorary head of the Regions Party Viktor Yanukovych has said the economic crisis has been overcome in the country.

"We knew about the challenges and threats faced by the state, and we have, without exaggeration, managed to save Ukraine. The first conclusion I'd like to draw on the results of the previous two years is that the country has emerged from economic crisis," he said in Kyiv on Monday while addressing the 14th Congress of the Regions Party devoted to the forthcoming parliamentary elections in October 2012.

According to Yanukovych, the Ukrainian economy has stabilized; inflation in the first half of 2012 was less than 0.1%.

"This is the best indicator over the past decade," the president said.

According to him, the state budget deficit in 2010-2012 "shrank by several times."

"GDP last year grew by more than 5%; its growth continues this year ... exports of Ukrainian goods have increased by a third, the forex rate of the hryvnia is steady. This stability was due to the growth of foreign direct investment in Ukraine by almost $11 billion," he said, saying that this was the result of the consistent implementation of reform to modernize the country.

The president also said that over the past two years the average salary in the country had grown by more than UAH 1,000.

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