Azarov: Political stability a guarantee of Ukraine's economic development

KYIV, May 7 /UKRINFORM/. Political stability is a guarantee of Ukraine's sustainable economic development, Ukrainian Prime Minister Mykola Azarov said at a meeting with World War II veterans on Monday.

"What does Ukraine need? 15-20 years of stability. And then you won't recognize Ukraine. We have a lovely nature, hard-working people, and we have all of the conditions for sustainable development," he said.

Azarov added that because of a frequent change of governments, the country had failed to implement deep social and economic reforms.

At the same time, the prime minister noted that Ukraine has the potential to increase domestic oil and gas production.

"We have natural gas and oil, and not 10,000 kilometers from Ukraine, but in the center of Ukraine. We need time and money to develop these fields, and we will have 60 billion cubic meters of domestically produced gas, and we will not depend on anyone," Azarov said.

He said that first high-tech drilling platforms for oil and gas production on the Black Sea shelf would be installed this year.

Azarov said that the installation of such platforms would help Ukraine significantly increase the production of hydrocarbons.

The prime minister also said he was confident that the country's economy was suffering because of political instability. In particular, he said that this year Ukraine would overcome the effects of the economic crisis of 2008-2009 and reach pre-crisis levels of development.