5M11 state budget deficit is below the forecast
5 July 2011
The 5M11 state budget deficit amounted UAH 1.58 bln, 6.6x lower than the figure forecasted by the government, the Finance Ministry reported on its web site. The cumulative budget (state and local) surplus was UAH 0.15 bln. The Finance Ministry attributes the surplus to high pace of economic growth, improvement in tax administration and efficient use of budget funds.
