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.
“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.
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.
“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.
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.