At a meeting with journalists representing business publications, the President of Ukraine Victor Yushchenko said a working group had been formed to hold consultations with parliamentarians and business leaders to elaborate methods of rational expense of funds received form Kryvorizhstal auction.

He said the government planned to consider this issue on November 5, while he intended to conduct a Political Council meeting to discuss this subject. The Head of State supposed they might use this money to finance defense projects or initiatives to optimize the energy supply sector. Yushchenko also said it was important to start long-term projects to support farming or construct metro or bridges.

The President reminded those present that Ukraine had received record UAH 24.2 billion ($4.8 billion). The state should pay UAH 4.3 billion to the former mill owners, while seven billion will be spent to pay off this year’s budget deficit.



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