Ukrainian President Viktor Yanukovych insists on the need to search for reserves within the country for economic development, optimization of production and improvement of the competitiveness of domestic goods, he said during the extended meeting of the Cabinet of Ministers, ForUm correspondent reports.

According to him, the government funding and special programs should become an impetus for the development of Ukrainian economy, but "private initiative will not be replaced by state."

The head of state insists to create the competitive conditions in the country, to continue work on deregulation and to provide small and medium businesses with economic freedom.

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