President Viktor Yanukovych has signed into law the bill on the national budget for 2011, reads a statement made by the presidential press service.

"Having received the budget, Ukraine is confidently entering the New Year," the statement said.

It emphasises, the 2011 state budget is a result of timely and quality work of all branches of power.

"Timely and quality work on all stages of preparation and endorsement of the state's main financial document persuasively testify to the serious intentions of the authorities to bring to life all shaped plans, and also to accurate coordination of its branches' actions," the statement said.

The president gave a series of errands to Prime Minister Mykola Azarov and the National Bank of Ukraine Governor Serhii Arbuzov to refine upon the mechanism of formation of the state budget, to disallow narrowing powers of local self-government bodies, to ensure observance of principles of openness and fairness when obeying the law on the national budget for 2011 and other legislative acts.

As Ukrainian News earlier reported, the Verkhovna Rada on December 23 passed the 2011 state budget with revenues of UAH 281.465 billion and outlays of UAH 321.921 billion.

Finchannel