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State aid to Naftogaz twice its budget contribution, says official
Journal Staff Report

KIEV, March 16 - The amount of state aid extended to national JSC Naftogaz Ukrayiny is two times more than the company's transfers to the budget, according to First Deputy Finance Minister Anatoliy Miarkovsky.

"A structure that should fill in the budget, serve as a donor to the budget, has unfortunately turned into a recipient since 2009. In other words, the amount of state aid given to Naftogaz is two times higher than the payment of funds transferred by Naftogaz to the national budget. This is an absolutely abnormal phenomenon for any economy," he told reporters on Friday.

Ukraine's national budget for 2012 foresees the issue of government domestic loan bonds to additionally capitalize Naftogaz to the tune of UAH 12 billion.




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