Budget deficit of Ukraine in 2009 must be increased to 10% of GDP in order to extend state investments into economy, former deputy head of the National bank of Ukraine Oleksandr Savchenko believes.

"Deficit must be not 6%, as we planned, but 10%, which is approximately 100 milliard UAH. And don't be afraid of this sum...It is possible to manage even 100 milliard of emission without inflation and devaluation, if money is invested through proper instruments and effective projects," Savchenko said.

According to unofficial data, Savchenko, dismissed from the NBU last week, was appointed the deputy finance minister.


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