The Ukrainian Government has approved a budgetary resolution for 2008, referred to the new Law on the Cabinet of Ministers. The document sets new basic purposes and tasks of the 2008 state budget, “Cabinet press office” reported.

In particular, the declaration sees preserving the volume of state debt relatively to GDP at the level not higher than in 2007, defining budgetary shortage at economically safe level, preserving the share of GDP redistribution via the general budget not exceeding the 2007 forecast (the Economy Ministry forecasts GDP at 6.5% and inflation at 7.5% in 2007).

Under the document, the minimal wage is to reach 90% of the subsistence wage by the year 2008.

The declaration sees at least 10% of funds from privatization to be directed to financial support of innovative projects, economy strategy and security of the state.


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