OREANDA-NEWS. September 15, 2011. The Government plans to reduce deficit of the state budget to 2.5 % in 2012. This was announced by the Prime Minister Mykola Azarov at a meeting of the Cabinet of Ministers.

"For calculations of the budget the Government used the weighed scenario providing growth of real GDP by 5.5 % and reducing of deficit of state sector to 2.5 % from GDP - in comparison with 3.5 % of current year," Mykola Azarov has informed, having assured that "it is a safeguard of resistance of a financial system of the state at any succession of events." Thus he has noticed that "even the developed European countries cannot keep their deficits within such, more moderate, an indicator."

The Prime Minister has called a number of objective factors of such rigid limitation of budgetary deficit. As he said, it is instability of foreign markets, necessity of reduction of debt obligations of Ukraine, a sharp rise in prices for gas.

Mykola Azarov has noticed that "the foreign markets freeze in expectation of the new wave of crisis which was announced by leading experts". "Therefore we should protect economy of Ukraine from the risks connected with instability of world economy. It is possible to count only on own forces, on own safety factor," he stressed.

The Head of the government has explained necessity of reducing of a state debt so, "If till 2008 the state debt of Ukraine was kept at the level of 10 % of GDP, after 2008 - it has exceeded 30 %. Still two years ago every second hryvnia in the budget has been borrowed, and borrowed for a year-two, under mad percent. Can operate the independent state so? Cannot. These debts - on ours with you shoulders. And anybody, except us, will not settle payments with it. Therefore both in 2010 and in 2011 we are forced to borrow to repay former debts. And here only since 2012 Ukraine begins absolute reducing of a state debt".

Moreover, Mykola Azarov has noticed that the budget was created in the conditions of a sharp rise in prices for gas. "Over the past six months - almost double. And gas is 90 % in the cost value of chemical fertilizers, 20 % - in the bread cost value, 80 % - in the heat supply cost value. That is, the gas rise in price is a rise in price for our people of bread, foodstuff, housing and communal services, etc.," he has noted. In reply to this call the Government offers a society the medium-term program of power savings and the power efficiency strategy, conforming to the European standards.