The FINANCIAL — Prime Minister Mykola Azarov rules out that the state budget of 2010 will be financed through the money emission.
He told this in an interview to the First National TV channel on May 9.
"We will not use the emission as a source of the state budget financing," Azarov said.
He said that the state budget deficit will be partially covered at the expense of foreign loans.
According to the prime minister, to draw funds Ukraine is holding talks with Russia, the International Monetary Fund and other possible creditors.
At the same time he emphasized that Ukraine intends to borrow the funds in the volume stipulated by the law on the state budget 2010.
As Ukrainian News earlier reported, on April 27 the Verkhovna Rada of Ukraine approved the national budget for 2010 with revenues of UAH 267.451995 billion and expenditures of UAH 324.016474 billion.
The national budget deficit will stand at UAH 57.7 billion or 5.33% of GDP (including financial support for the Naftohaz Ukrainy national joint-stock company) or UAH 54.3 billion or 5.02% of the GDP (excluding financial support for Naftohaz Ukrainy).
The deficit is expected to be financed from the following sources: external loans (UAH 27.3 billion or 47.3% of the total size of the deficit), domestic loans (UAH 19.1 billion or 33.1%), privatization revenues (UAH 10 billion or 17.3%), and active loan operations (UAH 1.3 billion or 2.3%).
