The Finance Ministry plans to elaborate the draft state budget for 2010 with the deficit not exceeding 3% of the GDP.

Deputy Finance Minister Anatoliy Miarkovskyi said at a conference with representatives of regional organs of power, headed by Prime Minister Yulia Tymoshenko.

He said that within the current economic conditions, he sees no other ways to draft the state budget.

“In conditions of the crisis there are no other standards in economic models where budgets can be elaborated with zero deficit or with surplus. That’s why we propose the deficit-ridden budget, and this deficit will concern only questions connected with the budget development,” Miarkovskyi said.

He also said that the deficit will only touch upon issues linked to the development budget.

As ForUm earlier reported, Prime Minister Yulia Tymoshenko has urged the Finance Ministry to create a workgroup to draft the state budget for 2010.

In late December 2008, the Verkhovna Rada endorsed the state budget for 2009 with the revenues of UAH 238.93 billion, expenditures of UAH 267.32 billion, and ceiling deficit of UAH 31.105 billion, or 2.97% of the GDP.

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