Ukrainian industry to grow in 2014

It will be possible to achieve positive dynamics and growth up to 2.5% of industrial production through the use of reserves and own resources, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

A slower pace of industrial production decline that occurred in the last months of 2013, allows making positive forecasts about the dynamics of its growth. A government program on industrial cooperation with Russia, reduction of gas prices by one third and the funds received from the sale of Eurobonds will be the basis for the beginning of an industrial growth. The major part of the 15 billion USD will go for upgrade of the industry, where, according to Prime Minister Mykola Azarov, the equipment is 65% obsolete.

It is important to mention that arrangements and numerous agreements worth 30 billion USD, signed with the new strategic partner of Ukraine - China, also open new horizons for Ukrainian producers.

So, as the Ministry of Economic Development and Trade says, industrial production figures can demonstrate a positive trend in 2014.

At a meeting on the development of particular sectors of industry, Anatoly Maksyuta, First Deputy Minister of Economic Development and Trade of Ukraine said the industry can overcome the negative trend this year. "By prudently using reserves and own resources, in 2014 Ukraine will be able to stop the decline of industrial production and, under favorable conditions and with our hard work, reach the positive trend in average of 2.5% growth," Anatoly Maksyuta said.

Experts point out that in 2014 the Ministry of Economic Development will work hard to support effective dialogue between public authorities and manufacturers. The manufacturers say that coordinated action in specific areas and branches of the industrial sector and the mobilization of the scientific and economic potential of Ukraine will help the industry get the necessary charge to create growth prospects.