You're reading: Yanukovych: Reform gathering pace in Ukraine

Ukraine is continuing to conduct reform in over 20 sectors, Ukrainian President Viktor Yanukovych has said.

"This year we will continue to increase the pace of economic modernization in various spheres of life. Overall, reforms will be launched in 21 different spheres of life," he said at a meeting with President of the European Bank for Reconstruction and Development (EBRD) Thomas Mirow at the World Economic Forum in Davos on Thursday.

Yanukovych noted that in 2010 he had initiated fiscal, budgetary, administrative and judicial reforms.

"The reforms are gathering pace now," he said.

Yanukovych said that the launched process of deregulation contributed, in particular, to the fight against corruption. He described cooperation between Ukraine and the EBRD as "a tradition" and said that the EBRD had invested in six investment projects in Ukraine this year.

"The EBRD joined nearly 200 investment projects in Ukraine, and the volume [of investment] exceeded a billion dollars," he said.

He said that thanks to cooperation with the EBRD, Ukraine was gradually restoring the stability of its financial system.

"The confidence of Ukrainian citizens is growing, and deposits in Ukrainian banks are constantly increasing," he said.