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Ukraine is overcoming its crisis, which was caused by a lack of effective reforms, fighting in the east of the country and the annexation of Crimea.

Finance Minister of Ukraine Natalie Jaresko stated this at the 8th Kyiv Security Forum, an Ukrinform correspondent reports.

"You know all the bad news. But there is good news too: Ukraine is overcoming its crisis, which was the result of incomplete reforms, war, the annexation of Crimea. Ukraine is slowly but steadily overcoming this stage of the crisis," said Jaresko.

To overcome all the results of the economic depression, Ukraine needs a complete stabilization of the economic situation and reducing debt burden on the budget, said the Minister

According to Jaresko, Ukraine spends 5% of GDP on defense, law and order, while 5% of the budget are spent to service debt. "This debt puts pressure not only on the economy, but also on the ability to finance other social costs like education, health care, pensions," the Minister stressed.

To eliminate the crisis consequences, we need to improve the investment climate and carry out fundamental changes in the business environment, the Finance Minister of Ukraine said.

FM-TV

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