Ukraine’s State Budget Deficit To Reach Over USD $4 Bln In 2010

KIEV, Ukraine -- Ukraine’s state budget deficit is likely to reach 4.3 billion U.S. dollars, the country’s deputy prime minister Serhiy Tyhypko said on Tuesday.

Deputy Prime Minister Serhiy Tyhypko.

According to Tyhypko, the country needs foreign loans to recover the budgetary deficit and “only the International Monetary Fund can issue a real loan at an adequate interest rate.”

In November 2008, the IMF reaffirmed its intention to extend a 16.4 billion U.S. dollar loan to crisis-gripped Ukraine, and transferred 4.5 billion U.S. dollars as a first tranche.

The second tranche amounted to 2.8 billion U.S. dollars, and the third tranche – 3.3 billion U.S. dollars.

The last tranche of some four billion U.S. dollars was scheduled for late 2009, but the IMF postponed it till 2010 since Ukraine had adopted no state budget for 2010 at the time.

Meanwhile, Ukraine has adopted no state budget for the current year so far.

According to the information from the Ukrainian state statistics authority published here on Tuesday, a total of 530,300 people were officially registered as jobless as of March 1, which is 0.7 percent more than in February.

The current unemployment level amounts to 1.9 percent of the employable population.



runpb said…
1.9% of the "employable" are unemployed. That doesn't sound so bad. When I hear that here in the U.S. we have 10% unemployment, I wonder if that is also 10% of the "employable".
If so, gee.... sounds like Ukraine is the place to for work!!
But I know better. My wife have been for the last few weeks. She says it's pretty bad there with a lot of people out of work and the resulting problems.