Politics
ProspectsFinance Ministry plans to cut the budget by nearly UAH 40 bn
The Ministry of Finance has drafted a bill of national budget cutting and will be asking the Cabinet of Ministers to consider the document today, at the current government session.
As a reminder, on July 14, Premier Arseniy Yatsenyuk instructed the Finance Ministry to revise revenues and expenditures of the budget and bring them in concordance with the economic realities.
“Based on the results of the session the Prime Minister of Ukraine passed a decision on ensuring a new balance of the budget for 2014 without increasing its deficit through new proceeds (UAH 4.5 bn) and cutting of expenditures and also allocation of the loans of the national budget,” reads the accompanying note to the budget cutting draft.
Under the draft, it is proposed that the budget expenditures are cut by nearly UAH 40 bn compared with the previous version of the country’s financial plan for the year.
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