Ukraine’s budget deficit drops by 44.5% in 2017

Source : 112 Ukraine

The deficit of Ukraine’s state budget in 2017 reached $1.5 billion, despite estimates as high as $2.8 billion
17:45, 4 January 2018

112 Agency

The deficit of Ukraine’s state budget in 2017 constituted $1.5 billion, which was 44.5% less than the $2.8 billion deficit approved by the Ministry of Finance for 2017, the institution announced, reported by UNIAN.

Related: Government fulfills its targeted state budget revenues by 100%

“The execution of the state budget deficit was in line with the action plan specified by the law. Hence, the 2017 state budget was executed with a deficit of $1.53 billion against the $2.8 billion deficit approved by the amended law on the budget,” it said.

Related: Poroshenko ratifies state budget 2018

Ministry of Finance also reminded that the Parliament of Ukraine approved the state budget for 2018 on 7 December. The bill was then signed by Ukraine’s President Petro Poroshenko.

Related: Ukraine’s 2018 budget stipulates USD 18 bn on underground ammo storages, - Defense Minister

“The timely adoption and approval of the 2018 state budget allowed the budget year to begin on schedule and according to the provisions set out in the Budget Code. Particularly, the Finance Ministry determined monthly targets of budget financing, which were signed into law by the Minister of Finance on 29 December and then forwarded to the State Treasury,” the institution added.

Related: Revised draft of state budget 2018 submitted to Parliament

The deficit of the state budget in 2016 amounted to $2.5 billion, which increased by 1.6 times from its 2015 level of $1.6 billion.

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