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President notes significant decrease in pressure on businesses
18 May 2012
As a result of deregulation of the economy, the pressure on businesses decreased by 5.5% in recent years, President Viktor Yanukovych of Ukraine said on Friday, during his meeting with representatives of the EU-Ukraine international club of parliamentarians and experts.

"A number of reforms have been carried out to reduce the tax pressure. In general, the pressure on businesses over the past years has decreased by 5.5%. In the regulatory policy, the number of different permits decreased by approximately 90%," Viktor Yanukovych said.

He noted that the significant progress made in recent years was due to the fact that the reforms were implemented in full accordance with the National Plan adopted in 2010.

The President stressed that Ukraine currently exports 60% of the goods, foreign trade turnover in 2011 increased by 37%, and investment growth was 10%. Yanukovych said that, when he came to power, the GDP fall was 15%, production fall 23% and budget deficit 16%.

"This year's budget deficit is planned at 2.5%, which is a decrease on last year's deficit," the President said, adding that the growth of wages last year was 4.5%.

The President also said that inflation in 2012 stands at 2%, while in 2011 it was 4.6%, and 8.9% in 2010.

Source: Ukrinform

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