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Ukraine presid signs law increasing state budget deficit

November 08, 2012, 0:12 UTC+3
The government in recent days proposed to increase the state budget deficit by 960 million US dollars - up to 4.85 billion US dollar
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KIEV, November 8 (Itar-Tass) —Ukrainian President Viktor Yanukovich on Wednesday signed the law on changes to the state budget for the current year, concerning the settlement of the debt on the difference of tariffs on heating energy for the population, the press service of the head of state reported.

The government in recent days proposed to increase the state budget deficit by 7.678 billion hrivnas (960 million US dollars) - up to 38.807 billion hrivnas (4.85 billion US dollars) for the settlement of the debt on the difference in heating energy tariffs for the population. The explanatory note to the law says that the implementation of its norms will ensure timely settlements with the supplier of imported gas by means of cutting the gas debt of heating energy enterprises.

In the view of the country’s government, at present the only way to settle the debt on the difference in heating energy tariffs for the population that formed within 2011-2012 and remained unsettled is the financing of the corresponding subvention at the expense of the general fund of the state budget. The total volume of unsettled difference in the tariffs for the past two years that needs to be compensated by the end of the current year will reach some 7.68 billion hrivnas.

 

 

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