You're reading: Azarov: Ukrainian economy needs $1 trillion worth of investment

Prime Minister Mykola Azarov has said that Ukraine needs $1 trillion to modernize its economy within the next ten years, the premier's press service has told Interfax-Ukraine.

The head of government named the amount at a meeting with Estonian Parliament Speaker Ene Ergma in Tallinn on Tuesday.

"Ukraine needs around $1 trillion over the next ten years in order to modernize its economy," Azarov said. He said that shipbuilding, the aviation industry and the energy sector particularly required investment.

Azarov also noted that tax reform was being conducted in Ukraine, and proposed that Estonia invest in Ukraine.