Companies@UA: База компаний Украины

Ovidiopol, August 6 (Interfax-Ukraine) – The process of forming the budgets of all levels should start from the lowest level of local government, Ukrainian President Viktor Yuschenko has said.

He was speaking at a press conference at the town of Ovidiopol, Odesa region.

"In September, the budgets of districts should be confirmed, then those of the regions, and only after that should the state budget be adopted," Yuschenko said.

Under the current situation, when the central authorities are distributing the funds from the central budget, local authorities at all levels have no stimulus to raise revenues for their budgets.