Pynzenyk: Non-execution of Ukrainian budget becoming worrisome

The continuous non-execution of Ukraine’s state budget is becoming worrisome, former Ukrainian Finance Minister Viktor Pynzenyk has said. 

“According to the approved budget for the current year, the general fund’s revenues should grow by 19.3%. However, in the first eight months (or two-thirds of the year) the increase was only 11.1%,” reads a statement posted on the Web site of the economist.

Pynzenyk also noted that in the first eight months of the year the general fund received on average Hr 23.6 billion, but in order to ensure the execution of the annual target average monthly revenues should be increased to Hr 32.2 billion, or by 36.4%, by the end of the year.

“It means having a pace of growth three times higher than it is now. Lay persons understand the unreality of this growth, especially amid a significant worsening of economic dynamics,” he said.

According to the former finance minister, in the current situation the government should take the proper steps to prevent an escalation of budget problems, reduce non-priority budget spending, cancel tax incentives for individual business entities, immediately stop the work of centers of tax evasion (for example, money laundering centers) and prepare a realistic draft state budget for 2013. 


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