Ukraine is not going to solve its current problems using a credit of the Russian Federation and will spend it in a proper way, Ukrainian Prime Minister Mykola Azarov said, while opening a session of the Cabinet of Ministers on Wednesday, ForUm correspondent reports.

"The Russian Federation has provided us with support at a critical time, but we need to remember that it is a credit, though on very favorable terms. We need to use these funds effectively and in a proper way," he said.

According to the Premier, the funds of this loan will be used to modernize the economy and stimulate the release of competitive products. "Thanks to the loan, Ukraine will be able to fulfill a number of obligations until the end of the year. The Cabinet will fulfill the instruction of President Viktor Yanukovych and all social payments will be implemented before December 30. Furthermore, we will be able in 2014 to enter the international loan markets on much better conditions," he concluded.

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