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Cabinet plans to support aviation industry with $75 m in 2012, says draft budget
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20 September 2011
The state financing of the design, introduction and organization of the mass production of aircraft, helicopters and aircraft engines in Ukraine in 2012 would amount to UAH 600 million or $75 million, according to a draft national budget posted on the Web site of the Ukrainian government.
According to an explanatory note to the draft, the above-mentioned expenses to support the aviation industry are foreseen in the general fund of the national budget. State support will be also provided through a mechanism for subsidizing credits.
According to the note, the draft national budget for 2012 is based on an average exchange rate of UAH 8.10/$1.
The state program for the development of the aviation industry expired in 2011. According to the accounting chamber, the state financing of the sector has been suspended since 2010, and in 2011 no funds were foreseen in the budget.
A draft targeted comprehensive scientific and technical program for the aviation industry of Ukraine drawn up by the Industrial Policy Ministry for the period until 2020 has not yet been approved by the Ukrainian cabinet.
Source: Interfax Ukraine
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