KIEV, Jan. 25 – Budget expenses in January 2010 are expected at UAH 16 billion, while revenues could be only UAH 10-11 billion, according to a posting on the official website of the president.

"The revenues of the general fund this month could reach UAH 10-11 billion, so expenses will be restricted by real revenues, which will require a cut in expenses even on protected articles," reads the report, referring to the calculations of experts from the presidential secretariat.

The report says that the rise in taxes over the period was 10% from January 2009.

"Taking into account actual social expenses in November, when new social standards were in effect, expenses on protected articles alone should be almost UAH 15.5 billion, and taking into account expenses on presidential election, they will be UAH 16 billion," reads the report.