1 Nov 2011 14:38

Yanukovych: Inflated gas price obstacle to Ukraine's modernization

KYIV. Nov 1 (Interfax) - The current inflated gas price is a risk for Ukraine's modernization, said President Viktor Yanukovych.

"The current inflated price for gas, housing utility tariffs and the direct price for gas are a problem. It is not surprising that national energy company Naftogaz Ukrainy has a deficit and is operating at a loss," he said at the international municipal hearings on the development of local and regional governance in Kyiv on Tuesday.

Ukraine has been doing "the difficult work" to change the situation through all these years, he said.