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Nation    

President OKs UAH2.1b borrowing and Naftogaz cutback for coal sector
Journal Staff Report

KIEV, Oct. 2 – The president has signed Parliament’s initiative to increase the partial coverage of the costs of coal products by UAH 2.1 billion through increasing the budget deficit and reducing the funding of Naftogaz Ukrayiny.

According to the presidential Web site, he signed relevant amendments to the budget adopted on September 18.

"It is foreseen to increase financial resources by UAH 2.1 billion to pay wages to miners…at the expense of Naftogaz's government domestic loan bonds," reads an explanatory note to the document.




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