The Cabinet of Ministers created an anti-recessionary package

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The cabinet today, at the private meeting, will discuss a package of anti-recessionary initiatives which after will be offered the Verkhovna Rada, writes Kommersant - Ukraine in article Yulia Timoshenko collected a package.

The government wants to facilitate the tax legislation for landowners, banks, the insurance and stock companies, to include Cyprus in the list of an offshore, having performed operations with his residents unprofitable, and to reform a mortgage. However, in a package of measures isn't present words about support of industries which already suffered from world crisis.

As reports Kommersant, the government accepted the order No. 1336/2008 the Main directions of prevention of negative influence of world financial crisis on economy of Ukraine which contains the list from 36 emergency measures.

Among key tasks - attraction of the credit of the IMF according to the stand-by program and loans of other international organizations, deduction of a budget deficit-2008 at a minimum level, temporary refusal "from the decisions which performance will lead to deficiency growth", acceptance of deficit-free budget-2009 with "the moderate growth of a real salary".

Besides, the Cabinet of Ministers wants to direct on a construction of roads of 10 billion UAH; to increase Oshchadbank and Ukreksimbank capital that they credited a mortgage and exporters; to privatize "big investment attractive objects"; to cancel the actual moratorium on sale of land.

In addition the Cabinet of Ministers plans to carry out "anticipatory selection of buyers of vulnerable banks", to enter the annual moratorium on commission of investments abroad, to strengthen control with operations with the countries - an offshore and temporarily to limit the rate size on deposits. For support of builders it is offered to banks to allocate refinancing for crediting of the objects which degree of readiness makes over 75%, and to replace free granting housing with payment of an initial contribution.

The majority of these norms are wishes and intentions of Cabinet of Ministers. Real steps have to be fixed by the law On modification of some acts (concerning anticipation of consequences of world crisis), the developed Cabinet of Ministers.

As appears from the document which Kommersant has, eight laws will be changed, and only insignificant part of editings will concern directly fight against crisis from which construction companies, banks and iron and steel works already suffered.

The government suggests to allow in the Customs code till January 1, 2010 to Cabinet of Ministers in case of technical recession (production falling within three months - decreases from August to September) to change the import duties or in one stage to raise them for 10%.

GKTsBFR promise to grant the right to regulate commodity exchanges, Gosfinuslug - to create fund of guaranteeing insurance payments under contracts of long-term life insurance; foreign currency and electronic money will rank as commodity values, will facilitate collection from public industries of dividends and reform work of mutual investment funds.

For fight against outflow of means in an offshore the government suggests to carry to them the countries recognized as those as the Organization for Economic Cooperation and Development, and also the countries with which Ukraine has no contracts on avoidance of the double taxation or has such contracts adopted still by the USSR, as, for example, with Cyprus. At operations with these countries it is offered to rank only 85% of expenses as expenses.

The Cabinet of Ministers suggests to apply the accelerated depreciation of fixed assets to attraction of direct foreign investments and to simplify the taxation to the investors who have enclosed more than 1 million euros. However, instead of investors will limit in repatriation of the income - the means earned in a year can be brought out of Ukraine only in the second half of the next year.

We will remind that on October 16 the European Union accepted the plan of measures for an exit from world financial crisis.

Before the Federal Reserve System (FRS) of the USA declared that can lower again discount rate soon.

And still on October 12 the head of the International Monetary Fund Dominique Stross - Kan expressed support of the plan of the countries of the Big seven on crisis overcoming.


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