Thursday, July 10, 2008

President holds second meeting on economic stability

President Victor Yushchenko gathered a second consultative meeting on economic stability today. The participants of the meeting were Prime Minister Yulia Tymoshenko, Verkhovna Rada Speaker Arseniy Yatsenyuk, Minister for Economics Bohdan Danylyshyn, Minister of Finance Viktor Pynzenyk, National Bank Head Volodymyr Stelmakh, other officials.

At this meeting sides continued discussion on maintaining economic stability in the country, preparing alterations to the budget, fighting inflation, etc.

In his speech President repeated that to his opinion inability of the Government and the National Bank to find consensus on economic policy threatens adoption of alterations to the budget. He also called refusal of the Government to come to agreement with the National Bank on main scenario of economic development the great risk.

Particular concerns President expressed about inflation rates prognosis, provided by the Government and estimating at 15,9 percent. He warned that another mistake in inflation prognosis might lead to the situation when the new social standards became outdated again in two to three months.

Victor Yushchenko also drew Government's attention to insufficient or no financing of some sectors of economy, foreseen by the prepared alterations to the budget. Particularly, in his opinion, the most underfinanced remained agrarian, military, humanitarian, ecological sectors.