KIEV, Oct. 24 (Xinhua) -- The Ukrainian economy has overcome a period of crisis and is gradually stabilizing, Ukrainian President Petro Poroshenko said here on Tuesday.
"The worst period in the Ukrainian economy is over. We have managed not only to stay afloat and avoid a default, but also lay the foundation for sustainable development," Poroshenko told a meeting of the country's Regional Development Council.
He said that macro-financial stabilization was achieved through a string of reforms, including deregulation, tax cuts for businesses, fighting corruption and tapping into new overseas markets.
Poroshenko vowed to continue the economic reforms and work closely with the government and the parliament.
The Ukrainian economy grew 2.3 percent in 2016 after two years of contraction triggered by the political instability and conflict in the eastern part of the country.
The government expects the gross domestic product to increase by two percent this year.
