The current deficit of the national budget is in line with the requirements of a program on cooperation with the International Monetary Fund – around 4.5% of GDP, according to Ukrainian Premier Mykola Azarov.
"Measures taken by us allow cutting the budget deficit in 2011 to 3.5% of GDP, which is after 16% GDP deficit in 2009 is a great achievement," he said at the seventh annual meeting in Yalta.
The premier said that Ukraine’s currency reserves grew by 25%, the surplus of the balance of payment exceeded $5 billion, and GDP growth over eight months of 2010 came to some 5%.
Azarov said that there are problems with the agricultural sector, which has not been reformed, sharpened by dry weather and harvest was smaller than it was planned.
"This has led to price instability, which we’re trying to settle. First we think how to protect the domestic food market," he said.
