Parliament approves Kuchma-proposed hikes in budget expenditures


May. 12, 2000 18:00
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Kyiv, May 12 - Parliament has increased the state budget by UAH 880.6 million, having accepted most of President Leonid Kuchma’s proposals on budget expenditures. According to the relevant amendments to the state budget, UAH 195 million of budget revenues will be set aside for supporting the coal industry, UAH 200 million for regions, UAH 175 million for assisting agricultural enterprises in paying part of the interest on loans obtained by them, while UAH 20 million will be used to provide natural gas in rural areas. Moreover, UAH 35 million is expected to be used to finance Ukraine’s participation in the construction of a boiler house in preparation for the shutdown of the Chornobyl nuclear power plant, UAH 50 million for financing the State Customs Service, UAH 95 million for financing law enforcement organs, and UAH 10.3 million for the Academy of Legal Sciences. Parliament rejected Kuchma’s proposal that the amount provided for financing the parliament remain unchanged. Instead, Parliament decided to increase this amount by UAH 15 million. Deputies accepted the government’s proposal that an additional UAH 1.5 billion should be used to finance the coal industry through mutual settlements. On March 23, Parliament adopted amendments to the Law on the 2000 State Budget, thus increasing budget revenues by UAH 800 million through cancellation of certain profit-tax breaks, income-tax breaks, and discontinuation of refunding of value-added tax paid on barter operations involving foreign trade. The amendment also approved the distribution of the additional funds (UAH 700 million) that was intended for local budgets. On April 12, Kuchma vetoed an amendment to the budget and proposed that the UAH 700 million should be used to finance the coal industry and agricultural enterprises instead of distributing it among regional budgets. The Law on the 2000 State Budget, which was adopted on February 17, provided for revenues and expenditures each amounting to UAH 33,433,155,900.

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