KIEV, July 5 – Ukraine could receive a new credit from the International Monetary Fund in August if the country cuts its budget deficit, according to Deputy Prime Minister Serhiy Tyhypko.

"If everything were well, Ukraine could receive money in August… The fund has one requirement – to cut the budget deficit. We're ready to spend less this year – now we gradually can cut financing on each budget's expenses article," he said in an interview with the Kontrakty weekly.

Tyhypko said that the IMF board of directors would study the document, which were presented by the IMF Mission to Ukraine, for three weeks and then it would make the decision.