Amendments to the Law "On State
Budget of Ukraine" envisage an
increase of budget revenues by
UAH22 billion, primarily
due to additional revenues from value added tax. Prime Minister
of Ukraine Arseniy Yatsenyuk told this at
a meeting of the Government on
Saturday, February 14.
He has reminded
that, according to the Law "On State
Budget of Ukraine", the Cabinet has to
submit to the Parliament amendments
to the law on the state budget until
Arseniy Yatsenyuk has
highlighted that changes to
the state budget proposed by the Government
are based on the results of negotiations with international
lenders, and especially with the
International Monetary Fund.
The Prime Minister has stressed
the need to correct macroeconomic parameters
in the law on
the state budget, "Macroeconomic parameters have
changed, primarily because of the continuing of Russian
military aggression. These
are macroeconomic parameters as exchange
rates and inflation."
The program with the
International Monetary Fund, according to him, is one of the key elements
of the Ukrainian National
Bank’s help aimed
at stabilizing the exchange rate,
"as it is the directly responsibility
of the Central Bank", "I hope that the
National Bank of Ukraine will do its
utmost, provided by the
Constitution and the law on the Ukraine’s National Bank in order to
stabilize the rate, as
well as the banking sector."
"We are still optimistic
about the exchange rates," Arseniy Yatsenyuk
He stressed that an average
rate on the market was about 25 hryvnias per U.S.
dollar, at this, the Government had not received an official position of the
National Bank, "But in accord with our international creditors, at this
stage we estimate an average annual rate being 21".
the Head of the Government stressed that it is objectively related to the hryvnia, and to a regulated price increase, "We
estimate the inflation of the current year at the level of 26%".
Yatsenyuk claimed the National Bank of Ukraine would transfer to the State Budget
by nearly 5 billion hryvnyas less than was planned in the previous version of
objectively increase expenses of servicing the public debt resulted from an
increase of the exchange rate of the national currency. The course has grown,
and the state debt in foreign currency is also changing", he stressed.
forecast depends on the key issue - compliance or failure to comply with the
Minsk deals. The stabilization of the situation in the East of Ukraine entails an
upward trend in our macroeconomic forecast. In case there is no stabilization,
we will still be doing everything to ensure functioning of the Ukrainian
economy in the territories, fully controlled by the Ukrainian Government. It is
the task for the Government, and we will cope with this task", said