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. Last Updated: 07/27/2016

Ukraine Pans Budget

KIEV -- Ukraine's parliament has rejected the draft 2000 budget in the first reading, and Finance Minister Ihor Mityukov warned deputies their proposed changes were tantamount to drawing up a new budget.

A joint government and parliament commission will work on the document further and submit the draft for a new hearing, Speaker Olexander Tkachenko said Thursday.

The government has targeted a budget surplus of 554.5 million hryvnas ($121.4 million), or 0.4 percent of gross domestic product, for next year to show creditors that cash-strapped Ukraine is serious about meeting its obligations abroad.