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Over 80% of LPR budgetary revenues denominated in Russian roubles — LPR finance minister

June 09, 2015, 21:04 UTC+3 LUGANSK
LPR Finance Minister said the share of the Ukrainian currency unit had considerably shrunk and if the LPR had not introduced a multi-currency system it would have had big problems with payments
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© TASS/Yegor Aleev

LUGANSK, June 9. /TASS/. More than 80% of taxes payable to the budget of the self-proclaimed Luhansk People’s Republic (LPR) are paid in Russian roubles, LPR Finance Minister Yevgeny Manuilov said on Tuesday.

"About 80% of tax revenues as of today are in roubles, but some are in US dollars," LuganskInformCentre cited him as saying. In his words, US dollar-denominated revenues make up 4%, revenues in euro account for less than 1%, while revenues in hryvnias account for 14%

Manuilov said the share of the Ukrainian currency unit, the hryvnia, had considerably shrunk and if the LPR had not introduced a multi-currency system it would have had big problems with payments.

"The multi-currency system has proved to be efficient. We receive taxes in US dollars which we used to pay wages and pensions. A novelty is that we pay part of pensions to military retirees and part of wages to medical personnel in U.S. dollars," he said.

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