The Cabinet of Ministers approved at its extraordinary meeting on Wednesday the draft state budget of Ukraine for 2012, according to an UKRINFORM correspondent.

In the approved budget draft, the government reduced the consolidated budget revenues forecast by 4.2 billion UAH to 424 billion UAH (1 USD - 7.99 UAH). According to Finance Minister Fedir Yaroshenko, this was due to the reduction target figures for income tax, excise duty and value added tax.

State budget revenues decreased by 2.4 billion UAH and account for 332 billion UAH, local budget revenues by 1.8 billion UAH to 92.6 billion UAH.

At the same time, outlays of the 2012 consolidated budget will be 461.7 billion UAH.

Compared with the budget for 2011, the 2012 budget outlays will increase by 35 billion UAH.

Subsistence level, compared with 2011, will grow by 128 UAH per one person, which, according to Yaroshenko, is almost twice the rate of growth of consumer prices.

Earlier, the Prime Minister noted that the state budget will be immediately submitted to the parliamentary committee in charge, which will consider it on Thursday. And people's deputies may vote it on Friday.

Ukrinform