'Center of gravity' of 2014 budget to be moved towards interests of regions, says Ukrainian president

The basis for the development of the regions will be laid in the national budget of Ukraine for 2014, Ukrainian President Viktor Yanukovych has said.

"Next year the center of gravity will be moved to the regions. We'll look at the draft budget in September. My point of view is that it will be at least a 55% to 45% ratio," the president said at a meeting with candidates to the posts of heads of regional administrations, the press service of the head of state has reported.

"We should gradually pass powers, jointly with responsibility, to the regions. When the policy of the regions and the center is agreed it is always to the country's benefit. I support the idea that the center of gravity be gradually moved towards the regions," he said.

Yanukovych also said there was a need for the quick development of the economy.

"The economy we manage in our state has great prospects for development. We see these prospects. People, their lives and the creation of the conditions for people are of the top-priority," the president said.

"Our economy has to grow several times quicker than the developed markets to have a chance to create [these conditions]," he said.

The president said that this could be achieved through the modernization of various economic sectors.

"This means that we have to increase the depth of processing of our raw materials from year to year, we have to improve processing indicators at each technological cycle, cut cash costs, improve the quality of products and, of course, [increase their] volumes," Yanukovych said.