OREANDA-NEWS. On 07 April 2009 the Ukraine State Treasury announced that the State Budget Income exceeded the plan by 1.3% in 1Q2009. In particular the General Budget Fund Income amounted to UAH 34.4bn, Special Budget Fund Income amounted to UAH 9.4bn, while Local Budget Fund Income was UAH 13.3bn. At the same time the State Tax Administration announced that it transferred UAH 22.2bn to the General Budget Fund, which exceeded the plan by 3.1%.

Millennium Capital explains such an optimistic Budget Income reports by the extra inflows from the natural gas duty, estimated at around UAH 9bn, which legitimacy is questionable and is currently considered in the international courts. At the same time Millennium Capital sees no similar income sources in April 2009. The most significant Income may be received from the international loans, otherwise the government will need to issue government bonds.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.