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President Victor Yushchenko has imposed a veto of the law allocating Hr 1 billion for fighting the flu epidemic in Ukraine. President Victor Yushchenko has imposed a veto of the law allocating Hr 1 billion for fighting the flu epidemic in Ukraine, according topresidential secretariat first deputy head Oleksandr Shlapak.

According to Shlapak, President Yushchenko did not sign the law and returned it to the Verkhovna Rada with his proposals.

Shlapak said Victor Yushchenko does not object to the allocation of the funds for the fight against the flu. Rather, the president does not agree with the allocation of the funds by the National Bank of Ukraine.Yushchenko believes projects like this cannot be covered by the issuance of money by the National Bank.

According to Shlapak, the president proposes to raise the deficit of the 2009 national budget by Hr 1 billion and apply to the banking system of Ukraine and the National Bank with a request to help fund the deficit. Yushchenko is prepared to hold consultations in person with bankers to accumulate the required funds within several days.

As it was earlier reported, Prime Minister Yulia Tymoshenko has said the Verkhovna Rada is likely to override the veto of the president of the law allocating Hr 1 billion for the fight against the flu epidemic in Ukraine if Victor Yushchenko imposes this veto.The Party of Regions has pledged of voting to override the veto of the law allocating Hr 1 billion for fighting the flu epidemic if the president imposes the veto. On Nov. 3, the Verkhovna Rada endorsed the law allocating from the 2009 national budget to the reserve fund Hr 1 billion to fight the flu epidemic in Ukraine. This amount was allocated through redistribution of the National Bank of Ukraine's surplus between the general and special funds of the state budget.