Ukraine’s government is calculating the country’s 2010 budget based on Russian gas prices of 334 U.S. dollars per cubic meter, although the final price will be established after bilateral talks, Ukrainian Deputy Prime Minister Sergei Tigipko told a briefing on Wednesday.
On March 25, Ukrainian Prime Minister Nikolai Azarov will visit Moscow for talks on gas issues among others. According to Tigipko, the government is set to square the financial standing of Naftogaz of Ukraine. In 2010, it raised tariffs for transit of Russian gas via Ukraine’s territory, so the company will receive extra funds, he said.
While drafting the budget, the government went by the forecasted world economic growth of 3.9 percent; average ferrous metals prices rise by 5-8 percent and oil prices of 75-80 U.S. dollars per barrel.
The real average salary will be raised to 111 U.S. dollars, while the hrivnas exchange rate will stay at the level of eight hrivnas per one U.S. dollar. The GDP is expected to grow by 3.7 percent, with the inflation rate of 13.1 percent. The budget deficit (minus Naftogaz of Ukraine) is forecasted at 4.5-5 percent of the GDP against 6.6 percent in 2009.