First Vice PM Kubiv: UAH 50 mln for innovations envisaged in state budget

First Vice PM Kubiv: UAH 50 mln for innovations envisaged in state budget

The Government for the first time has envisaged UAH 50 million for innovations in a draft national budget.

First Deputy Prime Minister - Economic Development and Trade Minister Stepan Kubiv said this during the events to mark the 25th anniversary of the World Bank Group's partnership with Ukraine, the ministry’s press service reports.

"Over the last three years, we have managed to stabilize the country and move from crisis to economic growth. We applied difficult and tough but decisive and necessary reforms that allow us to conduct major  repair of the country," Kubiv said.

According to him, foreign exchange reserves grew to more than $18 billion in October 2017; inflation fell from 43% in 2015 to 12.4% in 2016; the banking system was strengthened, and external debt obligations were restructured. Also, the industrial production index grew by 2.8% in 2016, the corrupt gas sector is being reformed comprehensively, and the GDP growth totaled 2.3% in 2016, Kubiv said.


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