Ukraine finally overcame the bottom of economic crisis - Jaresko

Source : 112 Ukraine

Ukraine managed to stabilize the economy and financial system, the Finance Minister told
16:41, 16 October 2015

Ukrainian economy overpassed the bottom of crisis, the Minister of Finance Natalie Jaresko claimed at the briefing broadcasted over 112 Ukraine.

“Today we are already seeing significant signs for this important achievement. First of all, it is a stable rate of hryvnia. Secondly, the return of citizens' deposits in the banking system started. The third is the slowdown of economic decline and the fourth is the reducing of the decline in industrial production. Further, there are the slowdown of inflation and increase of reserves of the National Bank of Ukraine from critically low level of less than 5 billion USD to the current of about 13 billion USD. Ukraine, supposedly, finally overcame the bottom of the crisis," the Minister said.

Related: Ukraine Minister of Finance to meet with creditors

Recall, the Cabinet of Ministers issued a decree on the start of restructuring of national and government-guaranteed debt and its partial relief on September 22. The restructuring enables Ukraine to cancel $ 3.6 billion debt to private creditors. September 17, Verkhovna Rada passed the government-initiated package of laws on the restructuring of the national debt. September 18, President of Ukraine Petro Poroshenko signed these laws.

Related: Ukrainian debt restructuring: decision might be close

Related: Ukraine's state debt to exceed 94% of GDP until the end of the year

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