Poroshenko: Ukraine avoids default, hyperinflation

Ukraine has managed to avoid default and provide conditions for reducing inflation thanks to efforts of the state authorities.

President of Ukraine Petro Poroshenko said at the government meeting in Kyiv on Tuesday, an Ukrinform correspondent reports.

"I emphasize once again that statistics of the past two months gives us the reason to hope that inflation is on decrease. The price hikes will stop and there will be no hyperinflation, which we were forecasted," the President stressed.

According to the Head of State, the restructuring of debts to private creditors has become a very important factor, providing the possibilities to conduct economic reforms and emerge from difficult debt situation.

"We have avoided the default, expected by the aggressor. Default would give the reason for the aggressor to demand that we pay incredible debts. We did not give such a chance," Poroshenko said.

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