KIEV, Dec. 5 – President Viktor Yanukovych said Wednesday that incumbent Prime Minister Mykola Azarov is the among top candidates that may be nominated for the post of prime minister following the resignation of the government on Monday.

This is the first name dropped by Yanukovych after the president has accepted the resignation of the Cabinet. But he quickly added there are also other candidates.

“As to Mykola Yanovych [Azarov], I want to say that this is definitely one of the best prime ministers who in different conditions has managed to achieve positive results,” Yanukovych said in Ashgabat. “Therefore he has great chances.”

But he quickly added that “we cannot discard other options.”

Other options include Serhiy Arbuzov, the governor of the National Bank of Ukraine, according to people familiar with the discussions.

Arbuzov, whose mother, Valentyna Arbuzova, is leading a bank owned by Yanukovych’s son, is believed to be especially close to the Yanukovych family and is thought to be one of the main contenders.

But Arbuzov’s chances were somewhat weakened earlier this week after his controversial idea of slapping 15% tax on hard currency selling by individuals had been rejected by many in the Regions Party.

Yanukovych accepted the resignation of the government on Monday citing the fact that Azarov, along with some other ministers, had been elected to Parliament following October 28 parliamentary elections.

According to the current constitution, parliamentary elections do not automatically trigger the reshuffle of the government – only the presidential election does.

Yanukovych said the new prime minister will have to assemble a team of professionals in the new Cabinet that will be capable of facing and solving new economic challenges.

“It’s not only about the prime minister,” Yanukovych said. “It’s about a team that has to assume certain responsibility and able to stick to its word and to effectively operate,” Yanukovych said.

Ukraine’s economy contracted in the third quarter and will probably continue to contract in the fourth quarter, responding to weakening worldwide demand for steel, the country’s may export commodity.

The weakening economic growth is reducing budget revenue and, coupled with the inability to borrow from the International Monetary Fund, pose serious economic challenges to the new government.

“Ukraine has to pay great attention to the crisis that is approaching the country,” Yanukovych said, adding that Azarov helped to draft an economic program to deal with the crisis.

“The program will soon be introduced for review,” Yanukovych said.

Azarov’s government introduced a 2013 budget bill to Parliament that calls for dramatic increase in budget deficit to 50 billion hryvnias, or 3.2% of the gross domestic product.

The budget itself is based on an optimistic scenario of economic growth at 3.4% on the year in 2013, which is questioned by opposition politicians as unrealistic. (tl/ez)