Budget Surplus Cut to 0.6% of GDP in 1Q08

According to the Economy Ministry, Ukraine’s budget surplus came to 0.6% of GDP or UAH 1.2 bln (USD 237.6 mln) in 3M08, from 3% of GDP or UAH 4.0 bln (USD 792.1 mln) in 3M07. Polina Khomenko: We expectthe state budget to run a deficit of 1.1% of GDP by the end of 2008. The Economy Ministry approved a marginal budget deficit of USD 18.8 bln (USD 3.7 bln) in 2008. A surplus in the state budget is typical for the first quarter, propped up by seasonally high budget income from taxpayers.