President: Ukraine will overcome economic recession successfully

"The political foundations for that are laid; they allow us to implement the plan that the society had supported at presidential election", he said.

Already now, the President said, Ukraine is perceived in the world as a trustworthy partner. This is evidenced by the growth in world rankings occurring lately.

According to Viktor Yanukovych’s forecast, in 2010 Ukraine's economy could grow by 3-6%. In the next 10 years Ukraine needs 70 billion dollars to modernize the economy, he said. He also stressed the importance of elaborating a social-economic development plan for Ukraine until 2020.

The President expressed hope that the state budget will be approved in April.

He, moreover, stressed that Ukraine is ready to create favorable conditions for investors. "We will establish an Investment Agency and municipal agencies that would work on relevant regional programs”, he said.

"This year we expect to get 10 billion UAH from privatization", said Viktor Yanukovych. In his opinion, among the promising items for investors could be "Ukrtelecom", Luhansk Locomotive works, thermal energy enterprises, etc. In this context, the President emphasized the importance of "absolutely transparent" procedure of privatization.

The President pointed to Ukraine’s particular interest in attracting investment to infrastructural projects, such as development of transport sector and reforms in energy sector.

Viktor Yanukovych said that Ukraine has joined international nuclear materials nonproliferation movement and decided to abandon utilization of highly enriched uranium in domestic nuclear reactors, shifting to use of low-enriched uranium instead.

At the meeting the President of Ukraine also answered questions of the American businessmen and told them about results of his meeting with U.S. President Barack Obama.

Telling about the preparations for hosting Euro 2012 finals in Ukraine, Viktor Yanukovych expressed assurance that the event will be held at a decent level. "I believe that Euro 2012 will happen and four cities in Ukraine and Poland each will welcome fans from around the world. I am expecting that with pleasure. As a fan, as President I will do everything for our guests to feel the Ukrainian hospitality", he said.

According to the President, now Ukraine continues the work on creating the right conditions for the championship and motivating national team to play decently.

Answering the questions on VAT refunds, President Yanukovych stressed that the Government has a task to ensure the administration of this tax without interference of state officials.