Deficit of national budget to be less than 1% in 2008, says Finance Ministry

11:52

The deficit of the national budget this year will be less than 1% of GDP.

Deputy director of the macro-economic forecast department at Ukraine's Finance Ministry, Oleksiy Zhak, announced the forecast at the conference entitled Ukraine in the conditions of the international crisis organized by Fitch Ratings in Kyiv on Thursday.

"We expect that this year the budget will be fulfilled with a less deficit as it is foreseen in the law, which is less than 1% of GDP," he said.

Zhak said that the budget of the pension fund next year should be balanced at full.

"We don’t plan any real growth in social transfers next year. At the worst, they will be nominally frozen," he said.

28.11.2008