Draft budget for 2012 will be passed in its first reading on Thursday, October 20, the head of the VR budget committee Valery Baranov told ForUm.

According to him, at the beginning of the week the budget committee will hold a meeting, and "then we expect the approval of the parliament."

According to the draft budget for 2012, submitted by the Cabinet of Minsiters of Ukraine, the state budget deficit is reduced by 32% comparing to the state budget of 2011 - down to 24.129 milliard hryvnias.

In 2012 the government intends to finance the deficit of Naftogaz at the amount of 12 milliard hryvnias and the deficit of the Pension Fund at the amount of 2.2 milliard hryvnias.

It is planned to increase incomes of the state budget by 12.8% comparing with 2011 - up to 337.557 milliard hryvnias, including incomes of the general fund by 15.15 and up to 291.444 milliard hryvnias. It is also planned to increase the state expenses by 7% - up to 337.557 milliard hryvnias, including the expenses of the general fund by 8% and up to 314.881 milliard hryvnias.

The government plans to get back state loans at the amount of 12.336 milliard hryvnias and to grant new loans at the amount of 12.437 milliard hryvnias.

The state budget for 2012 has been calculated on the basis of the following macrofigures; GDP growth - 5%, nominal GDP - 1.505 trillion hryvnias, inflation - 7.9%, index of producers' prices - 9.4%.

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