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News / 10 January 2014 | 11:11
Economist: Budget process failure will push the country into chaos

Economist: Budget process failure will push the country into chaos

The proposition of the opposition to break down the budget consideration process is a destructive approach, as it will lead to freezing social expenditures of the state and will deprive Ukraine of the possibility to cooperate with international financial institutions, executive director of the International Bleyzer Foundation Oleh Ustenko declares, commenting on the appeals of the opposition politicians to block the budget adoption process for 2014.

"Absence of new budget is a rather negative moment for regular Ukrainians. It means that we enter 2014 with the old budget, and all articles, including social expenditures, will be financed basing on the calculations of the budget 2013. In turn, it means that no social pay hike can be expected," Ustenko explained.

Moreover, in case of budget process failure, the opposition will lose the possibility to control movements of state finances, the expert added.

"Availability of budget enables to plan state finances and define country's strategy for the next years, including reduction of budget deficit and stabilization of finances themselves. But if we fail to adopt the budget for 2014, I do not quite understand how the authorities, including the very opposition, can control and plan something," Ustenko summed up.
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