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Ukraine's parliament passes 2009 budget

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Ukraine's 450-seat parliament approved on Friday the national budget for 2009 with a deficit of 2.96% of GDP.
KIEV, December 26 (RIA Novosti) - Ukraine's 450-seat parliament approved on Friday the national budget for 2009 with a deficit of 2.96% of GDP.

The budget was passed by the required minimum of 226 votes.

The inflation projection for next year has been forecast at 9.5% with GDP growth at 0.4%.

The new budget law also stipulates that all wage taxes be replaced by a unified social tax.

On Thursday, MPs failed to approve the budget with a vote of 223, just short of the required 226 votes.

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