Ukraine’s 10-Month Budget Deficit Narrows, Finance Ministry Says

Ukraine’s 10-month state budget deficit declined to 12.353 billion hryvnia ($1.54 billion) after tax revenue rose and the government cut spending, according to the Finance Ministry.

The gap is 4.6 times less than the shortfall in the first 10 months of 2010, the Kiev, Ukraine-based ministry said today in a statement on its website. Tax revenue rose more than 65 percent to 209.67 billion hryvnia from January through October, the ministry said.

To contact the reporters on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net; Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

To contact the editors responsible for this story: Balazs Penz at bpenz@bloomberg.net; Claudia Carpenter at ccarpenter2@bloomberg.net

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