Sunday, August 10, 2008

State Budget earnings grow and allow Government to implement social programs - Economics Minister

State Budget earnings in January-June 2008 made up UAH 104.8 billion (1 USD - 4.84 UAH) which is UAH 33.5 billion more against the relevant period last year, Ukrainian Economics Minister Bohdan Danylyshyn told a press-conference. These indexes exceed the planned ones by 11%.

The State Customs Service increased transfers to the budget 1.9fold, besides, earnings to budgets of all levels from taxes and duties (UAH 82.53 billion) made by the State Tax Administration went up by 36.2% against the last year index.

The Economics Minister noted that in 2008, tax earnings from large taxpayers grew due to establishment of partner relations between authorities and business.

In H1 2008, social expenses of the settled budget went up by UAH 55.5 billion.

The minister said that the government implemented real steps towards restoration of social justice and increase of living standards. In particular, minimum wages grew since January 1, 2008 up to UAH 515 and from April 1 - to UAH 525. As a result, average monthly salary in January-June 2008 increased by 39.45% up to UAH 1,708 versus the relevant period last year. In reality, taking into account inflation, the growth rate was 9.5%, the minister added.

Taking into consideration re-calculations, average pension rate went up by 32.1% and by late 2008 it will grow by 37%.