OREANDA-NEWS. July 29, 2010. The Government within two or three months is to repay the VAT debt fully. Prime Minister of Ukraine Mykola Azarov said this at a press conference "On causes of bringing tariffs on natural gas to the economically sound level and the Government's measures to strengthen social protection of the population".

Mykola Azarov has noted that the Government will start from August 1 implementing the project of the VAT refund by placing domestic government bonds with further monetization. "To this end, we have prepared necessary resources. We set ourselves the task - for 2-3 months to settle fully VAT debts", the Prime Minister underlined and added that first of all this debt will be repaid to metallurgical and chemical sectors, which are real exporters.

The Head of the Government has noted that it is planned to issue bonds worth almost 17 billion UAH: "The amount we plan to issue is huge - almost 17 billion UAH. These are debts we received from our predecessors".

Mykola Azarov also said that these bonds will be converted into a real financial resource and enterprises can use these funds for modernization, reconstruction and new job formation.