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You're reading: Azarov: Ukraine overpays $20 billion in three years for Russian gas

Ukraine has overpaid up to $20 billion for Russian gas in three years, Ukrainian Prime Minister Mykola Azarov said.

“The delayed fall in demand for our goods on traditional markets and the decline in the price of goods exported by Ukraine over the past three years were accompanied by the impact of the highest price of gas in Europe, which is destructive for whole sectors of our economy. Over three years we have overpaid up to $20 million for gas, while that money could have been used for the modernization of industry, healthcare and the realization of infrastructure projects,” the premier said, opening a cabinet meeting on Wednesday.

Azarov said that over the said years the country’s economy faces the complicated coincidence of negative factors, but despite this authorities are doing everything necessary for its development.

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