Yanukovych sees no reason to talk of socio-economic deterioration in Ukraine

Ukrainian President Viktor Yanukovych has said that claims of a possible deterioration of the social and economic situation in the country are not appropriate.

"As for scaremongering and stirring up an atmosphere of possible socio-economic collapse in Ukraine, it is inappropriate to raise this issue, as it is not in line with the facts," the president said at a meeting with the leadership of the Verkhovna Rada, Ukraine's parliament, and the faction leaders in Kyiv on Wednesday, reads a posting on the president's Web site.

The head of state said that in the first quarter of this year the pace of growth of gross domestic product has stabilized. In addition, there is a trend towards a reduction in interest rates for businesses.

"We expect to see an intensification in business activities," the president said.