Daily Insight-State budget revenues +31.8% in 8M; 2012 state budget to be submitted 20-23 Sept.; liquidity, auction news

The draft law on the state budget for 2012 will be presented to the parliament and considered on the week of 20-23 September, according to yesterday\\\'s statement by Parliamentary Speaker, Volodymyr Lytvyn, as reported by Interfax Ukraine. The draft law will be based on the Programme for Socioeconomic Development for 2012, which will have to be considered before then. In addition, the government\\\'s programme for socioeconomic development for 2012-14 will be submitted to Parliament simultaneously with the State Budget-2012 draft law. Prime Minister Mykola Azarov on 10 August announced that the state budget for 2012 will be formed with a minimum deficit size, in order to form a strong \\\"security buffer\\\" against possible external shocks. The state budget, he added, should become the instrument to stimulate domestic production and consumption, in particular through the import-substitution programme that has been developed by the Ministry of Economy. Two days later, First Deputy Head of Presidential Administration, Iryna Akimova, reported that the government has agreed with the IMF on the size of prospected budget revenues for 2012. According to the draft of the government\\\'s Programme for Socioeconomic Development for 2012, presented by the Ministry of Economy on 15 July, the state deficit in 2012 is to lie within 2.5% of GDP, according to information from Interfax Ukraine news agency. The programme also stipulates that state budget revenues are to grow 15.2% YoY in 2012, while tax rates will fall (e.g., the corporate profit rate will fall 2ppt to 21%)