Ukrainian President Viktor Yanukovych has signed a long-awaited national budget bill, which plans for increased spending and a renewal of foreign credits.
The legislation passed by parliament on April 28 plans almost $41 billion of government spending in fiscal year 2010, an almost 19 percent increase over 2009 spending. The allowed budget deficit was $7.3 billion, or 5.3 percent of expected 2010 GDP.
International Monetary Fund (IMF) officials have made the passage of a budget bill with a 6 percent budget deficit or less a key condition for obtaining further IMF financing.
Deputy Prime Minister Serhiy Tihipko, meanwhile, said that an IMF mission will visit Ukraine next month for talks on a new credit program. Tihipko was speaking on his return from a week of talks in Washington with IMF officials.
The IMF in October 2009 froze an emergency $16.4 billion credit program to Ukraine, citing Kyiv's unwillingness to cut budget deficits and remove state price supports to energy.
compiled from agency reports
The legislation passed by parliament on April 28 plans almost $41 billion of government spending in fiscal year 2010, an almost 19 percent increase over 2009 spending. The allowed budget deficit was $7.3 billion, or 5.3 percent of expected 2010 GDP.
International Monetary Fund (IMF) officials have made the passage of a budget bill with a 6 percent budget deficit or less a key condition for obtaining further IMF financing.
Deputy Prime Minister Serhiy Tihipko, meanwhile, said that an IMF mission will visit Ukraine next month for talks on a new credit program. Tihipko was speaking on his return from a week of talks in Washington with IMF officials.
The IMF in October 2009 froze an emergency $16.4 billion credit program to Ukraine, citing Kyiv's unwillingness to cut budget deficits and remove state price supports to energy.
compiled from agency reports
