OREANDA-NEWS. On 4 September 2009 was announced, that in August 2009 State Budget Income was UAH 6.4bn, which is by 70% below the planned amount. In 7M09 State budget income amounted to UAH 121bn, while the State Budget 2009 anticipates UAH 184bn of total income.

Millennium Capital considers the news to be negative, since the government has already run out of possible Budget Income sources, which suggests State Budget Income underperformance by around UAH 40bn. Considering UAH 193bn of planned State Budget Expenditures, this will raise State Budget Deficit to around UAH 50bn, which exceeds the IMF requirement (3% of GDP or UAH 30bn) and decrease the probability of its fourth loan tranche provision.

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 tickets selling for its flights due to high arrearage to the creditors of the company.