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 Ukrainian Politics, Economics
  5757

 Party of Regions on Salary Debt: This is Not Something Critical

Deputy from the Party of Regions and first deputy chairman of the parliamentary committee on budget Vladyslav Lukyanov does not consider the situation with wages backlog in the country to be something critical: "The situation in the country is not easy but it is manageable and the government knows what to do, it acts accordingly."

In an interview to Censor.NET the deputy stated that "in order to assess the government's work, you need to recall the situation and the circumstances under which the budget 2012 was passed. You can clearly see that it was passed under strong pressure from the Parliament. In these circumstances the government has done everything to pass the most realistic budget. The government in this situation is almost like a bank which manages state funds. And if at the beginning of the year there was a surplus of funds they were immediately used to return into the economy. The consequences are that the crisis in Ukraine is not as bad it is with as our neighbors."

"At the moment the funds received by the budget are primarily allocated on the financing of the protected articles. Therefore, until the end of the month the current debt is paid off. Moreover, the Prime Minister does not tolerate delay of funding within one month. And this is not something critical. It's not a situation like the one in 2008-2009, when Ukraine borrowed a billion dollars every month," noted the parliamentarian commenting the wages backlog in the country.

"The situation in the country is not easy but it is manageable and the government knows what to do, it acts accordingly to the current situation," added Mr. Lukyanov.

"The current government has implemented the state borrowing at rates which you will not find in the market today. It testifies to the professionalism of the Minister of Finance and his team," he concluded. "To date, the state debt refinancing rate is three times less than the rate at which the previous government borrowed. We remember that the government which was leaving could not finance the state debt at 30% per annum while the present cost is at 7-8%. Therefore, all political speculation around the issue have nothing to do with reality."


 
 
 
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