Ukraine's leader signs 2006 budget into law

30 Dec, 2005

Ukrainian President Viktor Yushchenko signed the 2006 state budget, which aims to channel more funds for investment and development to fuel slow economic growth, into law on Thursday.
The budget, approved last week on the third attempt by the slimmest of parliamentary majorities, sets the deficit at 2.5 percent of gross domestic product.
The bill sets revenues at 124.9 billion hryvnias ($24.7 billion) and spending at 137.1 billion hryvnias.
The budget was criticised by opposition deputies, who wanted to increase spending on social issues as Ukraine gears up for a March parliamentary election.
A total of 52 political parties and blocs plan to contest the poll, the first public test for Yushchenko's liberal administration which took power after a peaceful revolution against electoral fraud.

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