President Viktor Yushchenko will veto the law on National Bank
issuing 1 billion UAH to fight the epidemic of influenza because the
law foresees money printing, said the President during a live phone
press conference at the office of Komsomolskaya Pravda Ukraine
newspaper, according to the press office.
President Yushchenko explained that the decision to
veto this law does not mean he will provide recommendations on where to
get the additional funds for the fight against flu epidemics because
the source of money should be the budget, rather than the National Bank
printing it.
In particular Yushchenko said that 2009
State Budget today lacks thirty percent of revenues. According to him,
the Prime Minister can not afford financing even urgent issues.
Therefore, the President stressed, according to the Prime Minister the
only way to finance the flu fighting campaign is to print additional
money.
However, Yushchenko stressed, such a step would
inevitably lead to the devaluation of the Hryvnya. "When it comes to
emissions, the Prime Minister has the right to initiate the law, the
Parliament can approve it, but I will always veto it", said Victor
Yushchenko.
According to the President, the Parliament can overcome the veto
but then the truth should be told that the issue of money is happening.
"Taking chances of the money issue means declaring beginning of
national currency devaluation", stressed the President. "I will not be
the author of such a policy. I will resist it as long as I can", he
added.
