Government approves draft state budget for 2014 The Cabinet of Ministers of Ukraine has approved the draft

t state budget for 2014 with deficit of 2.7%, GDP growth of 3%, and inflation of 8%. According to experts of the Ministry of Finance of Ukraine, the main macroeconom ic indicators adopted at the meeting are unlikely to change.These are tough, prin cipled positions, they emphasize.However, the distribution of primary costs may v ary. Experts note that the numbers look quite realistic and are consistent with forwa rd-looking indicators provided by international organizations. It is envisioned that 87 billion UAH will be transferred to the Pension Fund of Ukraine from the state budget in 2014. According to the PFU budget for 2013, tra nsfers from the state budget should amount to 83.3 billion UAH, including funds for pensions amounting to 21.8 billion UAH. In the first half of 2013, the total cost of PFU expenditure was 124.5 billion U SD, up 12.8 billion USD year-on-year. The receipts of the own PFU funds for 6 months totaled 81.1 billion UAH, which i s 101.7% of the planned target. Own revenue is up 5.3 billion USD year-on-year. The draft state budget for 2014 also includes income from privatization of 17 bi llion UAH. According to the Treasury, in January-July 2013 the State Property Fund of Ukrai ne transferred to the state budget 182.4 millionUAH, the proceeds from privatizat ion of state property.The SPF transferred to the state budget 6.763 billion USD i n 2012. State Budget 2013 revenues are 370.05 billion UAH, including general fund revenu es 322.08 billion UAH, expenditures 419,33 billion UAH and 370.48 billion UAH, r espectively.The deficit is projected at under 50.59 billionUAH, including the gene ral fund 44.53 billionUAH. Offset: The Ukrainian GDP will be up 3% in 2014