The Cabinet of Ministers of Ukraine plans to consider the first draft budget for 2014 on August 21, Prime Minister Mykola Azarov said, opening meeting of the Cabinet of Ministers, ForUm correspondent reports.

Prime Minister instructed the Economic Development and Trade Ministry and the National Bank to provide valid and reliable forecast of macroeconomic indicators.

In addition, according to Azarov, the draft budget for the following year should contain compensators of the possible budget losses due to the VAT reduction to 17%, and also provide for funds for all social provisions.

"The central question of the government is to prepare a draft budget for 2014. Budget process is difficult," PM said.

According to him, the negative impact of the global economy continues. In addition, Azarov noted that the Parliament disrupted schedule of the budget process.


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