The Prime Minister of Ukraine held a meeting at the end of the fiscal year which was attended by the Cabinet members, heads of parliamentary committees, national bank, tax and customs services representatives.

According to the PM, the main result of the year is that the government managed to stabilize the extremely difficult financial situation we inherited. "State finances were unbalanced, there was no law on State budget, there were huge debts, practically bankruptcy of monopolies such as "Naftogaz Ukraine". Today we can confidently assert that we have set order in public finances," Cabinet's press office cited the PM.

Mykola Azarov also stated that the agreed policy of the Government and National Bank helped to ensure the stability of national currency: "There is confidence that the financial stability and exchange rate stability will lay the basis of socio-economic development next year."

He stressed that sufficient balances in the treasury account would allow to fully fund in time the expenditures, to guarantee the payment of state wages and pensions as of December and January and beyond. "Sufficient resources in the Treasury allow us to look into the next fiscal year and begin its organized, with a good safety margin," Mykola Azarov said.

He also thanked the deputies, heads of committees for that they have organized in a very short time a constructive and meaningful work on adoption of the State Budget for 2011.

"We expect that this week the budget will be adopted, therefore, I commend the Minister of Finance Fedir Yaroshenko along with the directors of regional authorities to create schedule for regions and citiesbudgets creation. I insist that all local budgets should be balanced, as it is required by legislation," the head of the Government underlined.

He also set a task for the time remained until the actual end of the fiscal year: to fully fund the social obligations of the Government, to pay most debts for energy, utilities, to perform the task on VAT refund to avoid spraying the balances on the accounts.

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