KIEV, October 19 (RIA Novosti) - Preparations for Ukraine's presidential election will cost 216 million hryvnias (some $27 million), the Unian news agency reported on Monday, as the campaign got underway.

The agency said the cost would have been much higher, at 672 million hryvnias ($84 million), if the election had been held in October, as earlier planned.

"Because the elections have been set for January 17, 2010, far less money will be required in 2009," a deputy Central Election Commission chief said.

Ukraine today officially launched the presidential election campaign, the first since the 2004 "orange revolution" that swept Viktor Yushchenko to power.

Yushchenko is running for reelection, but with poll ratings in the low single digits is unlikely to win the January contest.

Opinion polls point to Viktor Yanukovych, the president's opponent in the 2004 race, as a leading contender, along with Prime Minister Yulia Tymoshenko. Analysts predict both will go into a runoff vote.

Ukrainians hope the election will end several years of political infighting, which has complicated decision-making in the country.