"If President Viktor Yushchenko does not sign the state budget bill for 2007 approved by the parliament on Tuesday, the document will be initiated by regions," Prime Minister Viktor Yanukovych said in Chernivtsi on Tuesday.

"The process of adoption of the budget will most likely start in the regions," he added, stressing that certain regions dream of the budget bill first being adopted at the local level and then consolidated in the centre.

According to him, the state budget bill adopted by the parliament on Tuesday is a compromise budget.

"It is the latest step by the government and the parliament to reach a compromise. If we again fail to receive a positive response, we will think of what to do next," Yanukovych said.

According to his data local and regional authorities are satisfied with the latest version of the state budget for 2007.

"If it suits the regions and suits the government, I believe there are no grounds not to sign it,"  Yanukovych said.


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