Global Crisis Tells On Ukrainian Economy, Pinzenyk Says

krainian Finance Minister Viktor Pinzenyk says that the global financial crisis influences Ukraine’s national economy.

He expressed this opinion, addressing the National Academy of Sciences.

«The risks the world is suffering will inevitably tell on Ukrainian economy,» he said.

Pinzenyk noted that the Ukrainian economy is strongly linked to foreign loans, and this sector is almost closed now.

Beside that, the minister noted that the world mortgage crisis would affect Ukraine’s export-oriented branches, in the first place metallurgy.

Pinzenyk says Ukraine should take rather conservative steps.

Particularly, it is necessary to approve a well-weighted budget deficit and prevent heavy loading on economy until global processes return to stable.

As Ukrainian News earlier reported, international rating service Fitch changed the outlook for Ukraine's ratings from Stable to Negative.

Prime Minister Yulia Tymoshenko says the world financial crisis will not hit Ukraine.

President Viktor Yuschenko says any serious negative consequences of the world financial crisis are unlikely for Ukraine.

Market News
• 02-10-2008 Credit-Rating: National Bank tries to refine the banking assets from non-liquid securities
• 01-10-2008 U.S. Stocks Surge on Speculation Bank-Rescue Plan Will Pass
• 01-10-2008 World Bank urges Yushchenko to quickly sign joint stock company law
• 01-10-2008 EU may give thumbs down for Polish shipyards plan, Ukrainian buyer waiting in the wings
• 01-10-2008 Switzerland's Кorlea Invest Founds KazUkrEnergo To Trade In Gas
• 30-09-2008 US bailout rejection spurs flight to safety
• 30-09-2008 Regulators halt trading on Russian exchanges
• 30-09-2008 Global markets slide as U.S. lawmakers reject $700 billion bailout
• 30-09-2008 Six MPs Urge Rada To Oblige Exporters To Purchase Grain At Exchanges
• 30-09-2008 World Bank Favors Soonest Signing Of Law On Joint-Stock Companies By Yuschenko