OREANDA-NEWS. Since April 1 of 2009 the Government started backing of certain branches of economics by means of allocation funds from the Stabilization Fund of the State Budget of Ukraine. The acting Finance Minister Volodymyr Matviychuk announced to a briefing in the Cabinet of Ministers.

“According to a Government’s decision from the second quarter the financial support of certain branches will trigger from the resources of the Stabilization Fund,” Volodymyr Matviychuk disclosed. According to him, from the start of April the Gov’t also commenced financing of the Program of gearing up to the Euro-2012.

The acting Finance Minister stressed in Ukraine the Stabilization Fund of the State Budget contains UAH 20 bn and these reserves are destined for the target support of certain economic branches.

As he explained, in particular these funds are envisaged to support agro-industrial complex, to finance investment projects of aircraft building enterprises, defence-industrial complex, machine-building, coal industry, for cheap credits, to increase statutory capitals of the state banks, buy school buses, fire equipment etc.

The acting Finance Minister added the order of applying of these funds are being elaborated now. At this, he disclosed the Gov’t has started partial financing of certain branches at the account of last year’s excess from the Stabilization Fund (UAH 5.9 bn). Notably, UAH 440 mn has been earmarked to back the coal branch.

“Owing to these steps we will have chance to render significant assistance to a national producer,” Volodymyr Matviychuk urged.

As he put it, government support of certain economic branches will stir up the development and, in its turn, will ensure the revenues of the State Budget: “The Gov’t is taking respective measures in order to implement revenues of the State and local budgets in the future. We are convinced the plan of budget revenues will be fulfilled in April”.

The acting Finance Minister clarified, in order to ensure implementation of production programs and incomes to the budgets of all levels the Gov’t seeks to maintain coordination between certain branches of economy, in particular by signing memorandums of cooperation.

Moreover, Volodymyr Matviychuk expressed hopes the package of anti-recessionary measures will be approved, which will also contribute to filling the budgets of all levels.