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Azarov: $160 billion not exorbitant figure for Ukraine's economic modernisation

Ukrainian Prime Minister Nikolai Azarov has criticized opponents calling $160 billion for economic modernization an exorbitant figure.

"When I named this figure of $160 billion necessary for Ukraine's economic modernization, we faced tough criticism, but nobody gave another figure," he said in an interview with the Segodnya, a Russian language daily based in Kiev, on Monday.

"We say $160 billion for 10 years, while others note this is an exorbitant figure, but nobody has dared to say we need $20 billion, $50 billion or $100 billion. Therefore every, more or less sober-minded person realizes that the talk is about huge sums that even cannot be covered by these $160 billion," Azarov said.

He paid attention to the fact that over the past two-three years, four countries -- Greece, Spain, Portugal and Ireland -- had received 400 billion from the European Union.

"The population and territory of all four countries makes one and a half of Ukraine," Azarov said. "The EU injected 400 billion euro not into modernization, but into liquidation of crisis-related problems and debt payment and in general, spent 400 billion to save those countries from default. And we are said $160 billion is an exorbitant figure for Ukraine, Europe's largest country by area and one of the biggest by population."

[Source: Itar Tass, Kiev, 27Jan14]

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small logoThis document has been published on 28Jan14 by the Equipo Nizkor and Derechos Human Rights. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.