OREANDA-NEWS. July 15, 2013. The task of Government is to adapt our economy to a situation that is in the European Union and the Customs Union of Belarus, Kazakhstan, and Russia and in other countries associated with the reduction of world economic growth. This was stressed by Prime Minister of Ukraine Mykola Azarov at the Cabinet of Ministers.

“Once again it is confirmed that Ukraine should actively seek alternatives at foreign markets and to work to balance the foreign trade. I emphasize again that it is impossible to oppose: what markets are more important for us. Any possibility for the sustainable development of economy, strengthening of the financial system is important for us. The task of the Government is to adapt our economy to a situation that is in the European Union and the Customs Union of Belarus, Kazakhstan, and Russia and in other countries. These are facts which we can not ignore,” Mykola Azarov said.

The Prime Minister stressed the need to intensify economic processes at the regional level. “Together with the regional administrations Government determines: how to get the best result in the circumstances," he said, adding that the first conclusions regarding the economy in the first half of 2013 was made at the meeting of the Government.

Mykola Azarov stressed that the domestic economy in the first half worked under the influence of systemic adverse external economic factors.

According to the PM since the second half of last year we have reduction in demand for Ukrainian export and falling prices for it, primarily because of financial problems in some euro zone countries and the slowdown of economic growth in developing countries (Euro zone GDP declined by 1.1%). “This is a serious reduction in such a huge market, where there is one third of Ukrainian export. In fact, the International Monetary Fund for the third time this year has lowered the growth forecast for the world economy,” Mykola Azarov said.