Friday, 15 July 2011

Economic Development Ministry forecasts 15.2% rise in consolidated budget revenues in 2012

The draft state program of Ukraine's social and economic development for 2012 foresees a 15.2% increase in consolidated budget revenues compared to the forecast for 2011, to Hr 434.9 billion, the Economic Development and Trade Ministry has said.

"The revenues of Ukraine's consolidated budget in 2012 will grow by 15.2%, to Hr 434.9 billion, while tax burden will fall, in particular, profit tax will be reduced by 2 percentage points, to 21%," according to data from the ministry.

According to the ministry, the national budget deficit in 2012 will decline by 0.5 percentage notches, to 2.5% of GDP.

As reported, the draft state program of the social and economic development of Ukraine for 2012 foresees growth in real GDP of 6.5%, and an increase in industrial output of 8.3%.

According to the document, inflation will be about 7.9% in 2012.

The board of the Economic Development and Trade Ministry is to approve the program with the participation of some experts and submit it to the Cabinet of Ministers and the parliament of Ukraine

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