The opposition believes that the parliament will not consider the president's veto of the Tax Code this week and continue its work next week on the discussion of the code.

"I think that the veto will not be discussed. You'll see – neither on Thursday nor on Friday. This is linked to the fact that there is no an agreed position even in the cabinet, presidential administration and the profile parliamentary committee. It is impossible to start discussing proposals that don't exist," the deputy leader of the BYT-Batkivschyna faction, Serhiy Sobolev, told journalists on Wednesday, Interfax-Ukraine reported.

He said that the issue would be postponed for the next week, which was likely to be a plenary week.

"We understand that all terms for the adoption of the budget have been frustrated, and next week we'll see an answer to a question of what the president intended when he vetoed the law," he said.

Viktor Yanukovych declared that Ukraine's state budget for 2011 would be formed basing on the new Tax Code.

This would ensure the implementation of reforms in the public sector, the Ukrainian president told EBRD President Thomas Mirow during their meeting in Astana on Wednesday.

"The Tax Code is currently considered by the Verkhovna Rada, but I hope that it will be laid in the foundation for the state budget for 2011. Which would mean that reforms in the public sector will be based on new legislative principles," Yanukovych said.

The Ukrainian president recalled his initiatives of economic reforms in the country. He stressed that they were fully complying with the schedule of the program of economic reform for 2010-2014. "So far we are proceeding on schedule," he said.

According to Yanukovych, the reforms plan covers such priority areas as regulatory policy, tax and budgetary reform.

The Ukrainian president assured the EBRD head that the country's economy was stabilizing.

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