The FINANCIAL — Vice Prime Minister Serhii Tihipko has said the deficit of the Naftohaz Ukrainy national oil and gas company in 2010 is roughly estimated at UAH 16 billion.
Vice Prime Minister Tihipko said this on the Inter Television Channel on March 26 evening.
"This year, according to our early estimations, with UAH 106 billion of the revenue part of the budget of Naftohaz Ukrainy we can have some UAH 16 billion of the deficit. We will have to respond to this figure probably through the capitalization, through the [national] budget," he said
The deputy prime minister said the deficit of Naftohaz Ukrainy and the deficit of the Pension Fund of UAH 32-34 billion were two major problems of the national budget for 2010.
He said the government pursues boosting the revenue part of the national budget to the maximal possible figure through incentives to the economy.
The deputy prime minister said the government in a week would unveil a very interesting and radical decision concerning the restructure of the VAT refund arrears before exporters and a decision to trim the state regulation of the small- and medium-scale business.
As Ukrainian News earlier reported, Vice Prime Minister Serhii Tihipko expected the deficit of the 2010 national budget to equal 5% of GDP.
On March 24, the Cabinet of Ministers endorsed major macroeconomic indexes as the ground for the draft national budget for 2010.
The Cabinet of Ministers bases its calculations concerning the draft national budget for 2010 on the average natural gas import price of USD 334 per 1,000 cubic meters.
In November 2010, Naftohaz Ukrainy submitted to the Cabinet of Ministers headed by Yulia Tymoshenko its draft financial plan for 2010 with the deficit of its budget of nearly UAH 21 billion.
Naftohaz Ukrainy finished 2009 with a net profit of UAH 2.3 billion (under the Ukrainian standards of accounting).
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