OREANDA-NEWS. September 11, 2012. Notwithstanding bad outside developments and risks, Ukraine’s economy shows positive dynamics as communicated by Serhiy Rybak, Deputy Minister of Finance, at a video conference involving senior officials of the Ministry of Finance and officials of regional state administrations, area financial departments of Odesa, Kharkiv, Dnipropetrovsk and Lviv Region, and public and media members. The event has considered the Government’s 2012 social policy and President of Ukraine social initiatives implementation.

The economy is growing due to shifting accents from outside to inside drivers. To this end, the Government is pursuing the policy of:

- deregulating and favouring business development;

- improving investment climate (2012 shows direct investment gain to Ukraine and capital investment increase);

- inciting domestic production including high value-added industries.

When implemented, these efforts will provide for uninterrupted raise of social standards and allowances and GDP growth and close-to-zero inflation rate.

As for the social policy, 2012 has increased minimum and average wage. There is also a significant growth of securing vulnerable social groups. It is no later than July 1 that subsistence rate provision has been raised for disabled and retired people for up to 100% of the subsistence rate. One should say that this rate is supposed to increase next year primarily for budget-donated beneficiaries.

Deputy Minister of Finance also said that programs socially initiated by the President had been funded in full and would be accounted for in the 2013 budget. More importantly, the 2013 budget is ultimately going to be of economic potential growth of the State and significant gain of its citizens’ welfare.

To conclude his speech, Deputy Minister said that the next year’s state budget is now underway. As for local budgets, they should be oriented as much as possible to social and economic development of the regions.