Finance Ministry of Ukraine plans to reduce expenses on the national budget by UAH 10 billion mainly thanks to cutting financing of the state power agencies and state programs, Finance Minister Oleksandr Shlapak has said.

"We believe that it is possible to cut expenses of the national budget by UAH 10 billion," he said at a meeting of the conciliation board of the heads of the parliamentary factions and committees on Monday.

The minister said that first the cut of expenses will affect management agencies.

"We cut two-month expenses on maintenance of state power agencies by 90%, that is both central and territorial agencies will work without financing," Shlapak said.

He also said that it is planned to cut expenses on the coal sector by UAH 1 billion.

"We’re cutting subsidies to local budgets by UAH 700 million, which we planned to allocate at the end of the year. We propose that the regional development fund of UAH 1 billion is liquidated," he added.

It is planned that expenses on other state programs will be cut by over UAH 2 billion.

"We don't touch the expenses regarding military men and social expenses… Mainly this concerns industrial sectors," Shlapak said