Ukrainian Cabinet of Ministers plans to minimize country’s expenses annually

Government cuts country’s expenses by 10%
13:40, 5 November 2019

Cabinet of Ministers of Ukraine plans to minimize the country’s expenses each year, and it has already managed to cut them by 10%. Prime Minister of Ukraine Oleksiy Honcharuk said this during a briefing, broadcasted by 112 Ukraine TV Channel.

"Of course, as a state, we will look for efficiency in ourselves, so we annually minimize the country’s expenses, on the maintenance of the state apparatus. It is impossible to do it simultaneously by 50%, by 30% for a number of reasons, but there is a high enough bar of 10% that was set by the president, which we managed to pass in this budget," Honcharuk stated.

Related: Finance Minister reveals issues of Ukraine-IMF talks

Honcharuk said that the general budget’s expenses for 2020 are 48,1 billion dollars. The main item of expenses is the servicing of the national debt – 5,6 billion dollars.

As we reported earlier, Ministry of economic development, trade and agriculture of Ukraine expects the volume of remittances from migrant workers to Ukraine may reach 12 billion dollars this year. Serhiy Nikolaychuk, Deputy Minister of economic development, trade and agriculture, said that in his interview with RBC-Ukraine.

“Of course, this is an important part of our balance of payments. We are talking about the flow of currency income into the country - over 11 billion dollars last year. And this year about the number may reach 12 billion dollars,” Nikolaychuk said.

Related: EU may provide Ukraine second tranche of microfinancial aid in this year, - Finance Ministry Head

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