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26.03.2009
Credit-Rating: deficit of budgetary funds hampers financing the expenditure items in local budgets
Credit-Rating believes that the local governments will face difficulties associated with discrete continuous financing the expenditure items of the local budgets.
Poor intensity of funds incoming to the budgets` revenues as well as increased number of local governments` applications for non-interest treasury loans prompted the fact that the median volume of balances recorded in March and February 2009 decreased by 2.5x and 3.6x respectively, as compared to the similar year-earlier period.
Further decrease of the expenditure balance on the general treasury account will negatively affect capacity of local governments to make timely payments, including those made by their debt obligations.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found REUTERS and BLOOMBERG information systems.
For more information, please contact:
Information and analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.ua
Denis Rudenko
DRudenko@credit-rating.ua
