Ukrainian President Viktor Yanukovych has said he believes that the excessive price of gas is impeding the modernization of the country.
"This is the problem of the price of gas being too high. This includes the tariffs for public utilities and the price of gas itself. It’s no wonder that we have a deficit in Naftogaz Ukrainy’s budget – meaning Naftogaz is currently incurring losses," he said in Kyiv on Tuesday at the international municipal hearings entitled "The Development of Proper Governance at Local and Regional Levels."
According to the Ukrainian president, Ukraine has been working hard for several years to rectify the situation.
