OREANDA-NEWS. December 29, 2011. Minister of Finance Fedir Yaroshenko held a briefing for the media, where was discussed the basic parameters of the State Budget of Ukraine for 2012.

First of all, it should be noted that the state budget for next year has been formed and approved at a time when the world economy is experiencing financial instability. However, due to the constructive and effective work the Government of Ukraine managed to lay in the budget policy in 2012 effective mechanisms to protect against the recession and to concentrate available resources to minimize negative impact.

At the same time Ukraine continues to maintain a moderate level of GDP growth - 3.9%, while growth rates of economies of closest European neighbors are reduced to minimal levels.

Also we should keep in mind that Ukraine is a full player in the global economy and the Government has an objective view for events in the world.

Thus, revenues of consolidated budget in next year amount to 424.3 billion UAH. Expenditures - 461.7 billion UAH, while state budget revenues - 331.7 billion UAH, expenditures - 268.7 billion UAH.

Social indicators laid in the budget 2012.

During 2012 year basic social standards rise, on average for 14%

The next year will be increased assistance for single mothers to children for 0.3 billion UAH.

Assistance for disabled from childhood and disabled children will be increased for 0.7 billion UAH.

It will be increase wages of staff of medical education institutions. Amount of minimum pension benefits on average will be increase for 10%.

Also it will be increased payments for citizen affected by Chornobyl accident.

Funding for housing will also be increased.

Next year will be continued a program of construction (purchase) of affordable housing.

On a level with support for social vector of the budget, substantial attention next year will be paid to creating conditions to encourage the development of the real economy.

Next year will be continued reduction of tax burden and will be given preferences to business entities. This generally saves more than 45 billion UAH of investment resource in the real economy.

There will also be applied direct budget support for basic industries and infrastructure projects. For this purpose it has been directed more than 120 billion UAH.

Concerning regional policy, it next year will be focused on streamlining relations "center-regions".

Thus, local governments, regional leaders are provided with real leverage to ensure their revenue budgets.

Thanks to these measures on expanding sources of local revenues, local governments in 2012 will receive an additional 5.6 billion UAH on their own powers, including the implementation of investment measures.

In addition, local government has had the right to determine the direction of current funding problems of socio-economic development.

The total resource for investment development will be about 13.1 billion UAH, that by 2.5 billion UAH more than in 2011 year.

Recall. The President of Ukraine signed the Low "On the State Budget of Ukraine for 2012 year" on December 28.