Former Finance Minister Viktor Pynzenyk considers that Ukraine should resume cooperation with the International Monetary Fund.

He said in an interview Газеті in україÐ½ÑÑŒÐºÐ¸.

Responding to a question on the amount of foreign reserves of Ukraine, Pynzenyk said that they now exceed 26 billion dollars. According to him, the government does not handle them - only the National Bank. Pynzenyk reminded that foreign currency reserves would cover the balance of payments - the difference between the inflow and outflow of funds. Second year in a row is a large outflow of money from Ukraine. Import of goods more than we export. Growth of the dollar over the past year and a half - is a consequence of the negative balance of payments “, - he said.

Pinzenik predicts that this year”s exodus may be 25-35 billion dollars. “Consequently, you need external investment. But not to cover the budget deficit, not for eating, but for external payments. This means that Ukraine must once again go to working with the International Monetary Fund - another place where you can borrow money, no “- he said.

Asked whether Ukraine was effectively used loans from the IMF, Pinzenyk noted that governments taking money to cover the state budget deficit. “It means that money went to the eating away. Once we arrive at the fact that all budget revenues should be given to the repayment of debts, “- says a former Minister of Finance.

When asked whether or not expected to improve the economic situation after the presidential election, Pinzenik replied that it depends not on the election. According to him, you can always change the situation. “I would like to see the validity of the new leadership. I”m here more pessimism than optimism. But life is still cause to do something - not enough funds. And if nothing will do - will be political change, “- he said.

When asked which of the two presidential candidates can quickly understand what changes are needed and how to implement them, ex-Finance Minister said that there is the illusion that one of these candidates. In his view, the aggravation of the economic situation could be a major factor that will make for change. “Loans will not give no assurance that the country is emerging from crisis and be able to pay. If this factor does not work, I expect new elections, “- said Pinzenyk.

Talking about the draft state budget for 2010, he noted that the paper quality is comparable to last year. According Pynzenyk, the draft budget does not solve the existing problems, but creates them. “It is better not to have a budget than to accept such. This is more disciplined government, forcing him to act in accordance with the Budget Code. Tabled in the Parliament draft a permanent threat of inflation and the falling hryvnia “- he said.

According

Pynzenyk, the greatest danger of the draft budget-2010 - its imbalances. He noted that the government wants to spend considerably more money than has. According Pynzenyk, last year pereistratili 102 billion UAH. This deficit wacd1s covered by a relapse into debt. The bulk of loans to governments taking on the domestic market - 48 billion UAH. by 24-28% per annum. Beyond borrowed 40 billion UAH.

Pinzenik also noted that the country was the first time is rapidly increasing national debt. “Internal already represents 31 percent of gross domestic product. Two years ago, was 12,3 percent. Almost 40 percent of the cost than the government does not have to meet again to go into debt, “- said the former Minister of Finance.

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