Ukraine’s economy is booming, Olexander Shlapak, deputy head of the President's Secretariat, said at a press briefing on Tuesday, president's press office reports.

Shlapak said Ukraine was one of Europe’s fastest growing economies (7.9% GDP), with its currency reserves growing by USD 3.6 bln in 2007, industrial growth being faster than in the Commonwealth of Independent States and the people opening more bank accounts than ever.

“The Ukrainian economy remains robust… and has survived another energy blow quite easily. The energy sector functions steadily and the utility sector works fine,” he said, adding that the budget was being implemented and describing this year’s budget deficit as “acceptable,” he said.


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