Significance of law on state budget minimized, says head of Accounting Chamber

Kyiv, July 17 (Interfax-Ukraine) – The significance of the law on state budget has been minimized in Ukraine, Head of the Accounting Chamber of Ukraine Valentyn Symonenko said at a press conference in the Interfax-Ukraine news agency on Thursday.

Symonenko said that the law on 2009 state budget is disregarded both legally and by the executors of the budget.

He added that the 2009 budget is not being fulfilled in practically any sector of the economy.

"We have GDP falling by 21.6% in first half of 2009. But we should have had 0.4% growth. Inflation is 8.6% while the annual figure is [supposed to be] 9.5%, and industrial output fell by 31.3% compared to the same period last year," Symonenko said, adding that the industrial decline seen in 1994 was 27.7%.

He also said that the officials failed to fulfill both the expenditure and revenue parts of the state budget.