Any talks about the threat of default in Ukraine are groundless, economic development and trade minister Ihor Prasolov stated.

"There will be no default in Ukraine, because a drop in the economy was suspended and this is very important. We clearly fulfil our obligations on external debt - in November we paid off more than half a billion dollars of the IMF loan and Eurobonds. So let's forget the word default and will be engaged in real work," the economic minister said.

He also predicted a low level of inflation in the country: "The Ministry expects inflation at 0.4-0.5% at the end of the year. It's almost nothing." Besides, Prasolov urged not to speculate on the issue of increase in the exchange rate. 

He noted that the difficult situation on foreign markets definitely affects the GDP growth, but the government keeps the process under control.

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