Finance Ministry is allowed drawing foreign loans

The Cabinet of Ministers of Ukraine has granted the right to the Finance Ministry to draw foreign loans this year. Cabinet's press service reports.

This decision was passed at a Government meeting on Wednesday, Finance Minister Viktor Pynzenyk said.

The volume of foreign borrowings is stipulated by the 2008 national budget, he noted.

First Deputy Head of the President's Secretariat Oleksandr Shlapak supported this initiative. "It goes in conflict with the Budget Code, but in this case effective is the 2008 national budget law provision. A similar one worked last year, having proved expediency of the move for keeping the situation under control," he said.