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Baloha Says Anti-Inflation Measures Of Cabinet Deepen Negative Processes In Economy (09:43, Monday, May 12, 2008)

Presidential Secretariat Head Viktor Baloha has said the anti-inflation measures of the Cabinet of Ministers only deepen negative processes in the economy.

Ukrainian News learned this from a statement by the presidential press service.

"Until present the Cabinet of Ministers has not produced for realization any program of anti-inflation, anti-crisis measures. The time flows away little by little, which could be used to prevent destructive tectonic movement in the Ukrainian economy. Of course, one can seek consolation by facts that something became cheaper by two kopecks somewhere, but they won't stop the inflation train," the presidential press service quoted Baloha as saying.

According to Baloha, the April inflation of 3.1% indicated the government's failure to reign in negative processes in the economy.

"Reports by the government on the decline of the inflation dynamics are premature and can console only credulous people. As a matter of fact, there are no signs of the possibility to curb inflation within two or three months," Baloha said, according to the presidential press service.

Baloha criticized the government for its decisions on duty-free imports of meat and sugar to Ukraine. He said the decisions posed a serious threat to the economy.

Baloha called on the Cabinet of Ministers to amend the 2008 national budget as soon as possible with new macroeconomic and social indexes.

As Ukrainian News earlier reported, Prime Minister Yulia Tymoshenko predicts further reduction in inflation in May and June.

In April, Yulia Tymoshenko said she was confident that the inflation will slow down by October.

In April, Ukraine saw inflation of 3.1%.



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