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Deficit of Ukraine's state budget increases four times in 2020

Source : 112 Ukraine

According to the report, in January-September 2020, the deficit of the budget of Ukraine made 81.725 billion hryvnia ($2,883,973,093)
15:00, 27 October 2020

censor.net.ua

During nine months of 2020, the deficit of the State Budget of Ukraine increased four times in comparison with the same rate last year, as the State Treasury Service of Ukraine reported.

According to the report, in January-September 2020, the deficit of the budget of Ukraine made 81.725 billion hryvnia ($2,883,973,093). Before the introduction of the quarantine due to the coronavirus pandemic, the deficit of the state budget made 20.7 billion hryvnia ($730,477,125).

Related: Ukraine's GDP decreased by 11.4% over year, - State Statistics Service

This year, the consolidated budget of Ukraine in January-September was implemented with a deficit of 58.997 billion hryvnias ($2,081,930,383); meanwhile, it made 8.7 billion hryvnia ($307,012,125) of proficit in the same period of time.

As we reported earlier, according to Ukraine's Finance Minister Serhiy Marchenko, Ukraine needs a restart after the coronavirus pandemic

Related: World Bank forecasts 5.5% drop in Ukraine's GDP in 2020

According to him, the draft state budget for 2021 stipulates support for business activities and a course for economic transformation, which is necessary for recovery from the crisis caused by Covid-19.

Besides, credit ratings of Ukraine on commitments in foreign and national currency confirmed with B with stable prediction, according to S&P Global Ratings agency.

 

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