The Ukrainian government has set a goal to reach a 12% inflation rate in 2016, Ukrainian Prime Minister Arseniy Yatsenyuk said during his weekly TV address.
"Last year, we faced with this problem, and the inflation rate reached almost 45%. This year we have to overcome the galloping inflation. We have set the target – a 12% inflation rate in 2016,” Yatsenyuk said.
However, according to the premier, the Ukrainian government needs to fulfill a number of conditions to achieve a 12 % mark in the economy.
"If we still continue to carry out economic reforms and if Ukraine remains in the program with the IMF. This requires the consolidation among all political forces, the president, the government, as well as the unity on the path of reforms,” the premier noted.
Yatsenyuk also added that the launch of Ukraine’s economy is impossible without solving problems in the banking sector.
"Small and medium-sized business needs long and cheap credits. And the banking system stability is a key to this,” Yatsenyuk said.