Prime Minister Mykola Azarov has issued instructions to limit external borrowings by maximum and to be cautious about providing state guarantees for loans. He stated this at a Cabinet meeting on Wednesday, UKRINFORM reported.

"Now more than ever, our policies must be balanced, cautious, and maximum oriented at our own strength, search for internal resources and incentives. We must limit by maximum or abandon at all foreign borrowings, and be extremely wary of granting state guarantees," Mykola Azarov emphasized.

On top he added that the leading economic experts warn of the possibility of a new phase of the global economic crisis, and the government has no right to ignore such warnings.

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