Deputy Finance Minister Alexander Savchenko considers appropriate in the current level of public debt of about 40% of GDP.
He stated this in an interview with “Evening News”.
“It is believed that the amount of state debts in excess of 60% of GDP, is risky. Ukraine is committed to just over 40% even close to this mark does not approach” - he said.
According to Savchenko, Ukraine will be able to pay such debts in the future, although this would be difficult.
of servicing government debt in 2010, according to Deputy Minister of Finance, will need 43 billion hryvnia, and GDP will amount to 1,1-1,2 trillion. hryvnia.
“mistakes made by many economists, including Victor Pynzenyk, failing to understand the usefulness and necessity of the budget deficit in times of crisis”, - stressed Savchenko.
He added that he considers it appropriate to further involve the Ukraine International Monetary Fund in connection with theirec2low cost.
For speedy economic recovery, according to deputy finance minister, must be the restoration of domestic demand and the revival of domestic lending products.
For this purpose, according to Savchenko, the government is preparing proposals for the creation of so-called Development Bank for funds for recapitalization of banks.
“We have a unique opportunity: for the money, intended to recapitalize the banks, to create a development bank”, - he said.
with appropriate proposals, the Government intends to apply to the National Bank and looks forward to his support.
According to the agency, as of December 1, 2009 direct external debt of Ukraine amounted to 15.272 billion dollars, direct internal debt - 87.389 billion hryvnia (10.950 billion dollars), the total amount of direct government debt - 209.273 billion hryvnia (26.222 billion).
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