You're reading: Jaresko says government to reduce Naftogaz subsidies by 5.8 percent

The Cabinet of Ministers intends to reduce subsidies for Naftogaz Ukrainy, foreseen in the 2015 national budget, by 5.8 percent, Finance Minister of Ukraine Natalie Jaresko has said at a briefing.

“[We will cut the subsidies] from Hr 31.5 billion to Hr 29.7 billion – that is 5.8 percent less. Yes, it’s a little, but this is our first step,” she said.

The minister explained that Hr 10.7 billion out would be used to reimburse Naftogaz for losses suffered as a result of the Anti-Terrorist Operation.

As reported, budgetary subsidies for Naftogaz in 2015 were reduced to Hr 31.5 billion from Hr 110 billion in 2014.