/UKRINFORM/. A tranche of USD 2 billion allocated by the International Monetary Fund (IMF) to Ukraine will be spent on the country's development, Ukrainian President Viktor Yanukovych has said at the third international investment summit in Donetsk.
He said that these funds would be spent on economic development, including on the country's financial sector.
Yanukovych noted the importance of creating an investment and innovative model of development, which foresees Ukraine's withdrawal from imports of agricultural raw materials and semi-finished products.
He said that Ukraine currently exported only 20% of high added-value products, which, in his opinion, was unacceptable, because the country had a high scientific and technical potential.
The president expressed regret that only a few engineering plants could offer high-tech products, while Ukraine exports mainly raw materials and metallurgical products.
Yanukovych also noted that the authorities would have to take a lot of unpopular steps that will "affect political ratings." "But the reform policy that is currently being carried out in Ukraine is not designed for momentary effect and populism. It is designed for many years and it should produce results in a certain period of time," Yanukovych said.
Without reform, Ukraine cannot join the list of the most developed countries, he said. "If we don't do so, we will live in the Stone Age," the president said.
