Verkhovna Rada amends budget to compensate for flood damage

In an emergency session yesterday, the Verkhovna Rada passed the law amending the 2008 state budget, allocating UAH 5.0 bln (USD 1.0 bln) to compensate for damage from the flood in Western Ukraine (+2.5% to budget expenditures). Andrii Parkhomenko: These amendments should not have any visible macroeconomic impact. They are also unlikely to influence inflation: additional expenses are quite focused and will not impact general price movement.