Government is committed to enhance and secure sustainable economic development in Ukraine

The Ukrainian economy has demonstrated positive growth trend, and the Government will prolong work to enhance and secure sustainable economic development in Ukraine. Prime Minister of Ukraine Volodymyr Groysman announced during a CMU session on Friday.

The Prime Minister noted that over the last 4-5 months Ukraine showed positive tendencies in terms of economic growth. So, in January-June of 2016 against similar period of last year, an industrial production index is 102%, an index of construction products - 109%, freight turnover at transport enterprises – 102.4%.

Such ascending figures suggest that Ukraine may significantly increase the quantity of output produced and the GDP, expressed his beliefs Volodymyr Groysman.

"This can only be a positive indicator that given the appropriate approach, including among the Government officials, given the support of the business, deregulation, creating proper investment climate we will trigger growth”, said Volodymyr Groysman. “We need just to enhance this development and ensure its sustainability. But for this purpose we should support it with concrete action," he said.

The Prime Minister noted that his meetings with entrepreneurs prove the willingness of businesses to grow investment in Ukraine, but particularly the business requires predictable tax laws, a fair trial, the possibility of open and transparent privatization, the absence of risks regarding excessive controlling functions of the state.

In this context, Volodymyr Groysman accentuated that the Government sees as a key priority the reorganization of the regulatory agencies, reducing their number, improving the quality of their work in line with European standards.

The Head of Government urged Ministers to constantly monitor the situation with the subordinate structures. "The signals that we have are rather unpleasant, I'm not going to put up with them", he said.

According to him, there is certain positive feedback in overcoming the pressure of controlling bodies on business, but it is not enough.

Apart from that, the Government will continue open competitions to select management of state-owned enterprises.

"It is vital to ensure that in the public sector we had an opportunity to work with people who are capable not just to manage enterprises but to lead them out of the difficult economic situation and improve their performance", said Volodymyr Groysman.

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