Ukraine hoping for Japan's loan to cover national budget's deficit

Ukraine hoping for Japan's loan to cover national budget's deficit

Mar 28, 2009 at 15:17 | Interfax-Ukraine
The Ukrainian government hopes that Japan will be among the countries, which will help Ukraine cover its national budget's deficit, Ukrainian Premier Yulia Tymoshenko has said.

"Ukraine will be holding bilateral talks with other countries [about raising a loan for covering the country's planned budget deficit]. You know that we have filed a similar application to Japan, as well, and I believe that this application will be considered by the country soon," the premier said at a Saturday briefing on the results of her visit to Japan.

"We will not eat away a single kopeck borrowed to cover the budget deficit. We will spent all the resources on the development of industries and infrastructure," Tymoshenko stressed.

In February, Tymoshenko said that Ukraine needs $5 billion to finance the state budget's deficit. The premier said that she had addressed letters to the governments of Russia, the U.S., Japan, China, the EU leadership and various other countries with a proposal to assist the Ukrainian government in this effort through necessary agreements. She said that the Ukrainian government had already received positive responses from several countries, including Russia.