Home
/
News
/

Regions Warns of Budget Catastrophe.

Regions Warns of Budget Catastrophe.

21 July 2008

Nikolai Azarov, a Regions leader who was recently appointed chairman of parliament’s budget committee, attacked the acting government at yesterday’s hearing on the 2007 budget, claiming there was a UAH 30m hole in the state’s accounts that the new government would have to cover. Our Ukraine dismissed the attack as “populism”. According to the acting finance minister, Viktor Pinzenyk, the draft 2007 budget should be revised to account for recent positive trends in the economy. The previous draft assumed 2007 GDP growth of 4.2%, CPI of 9.5% and PPI of 13.4%. Pinzenyk said the budget plan included a deficit of 2% of GDP, the introduction of a single social tax with a cut in overall rates, and modest increases in the minimal wage and other social transfers. Tom Warner: There are problems in the budget, particularly with a shortfall in privatization revenues and arrears related to the gas price increase, but they are not on the scale Azarov is claiming.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...