Ukraine's GDP expected to grow by 3.8% in 2022

Source : 112 Ukraine

The budget deficit next year is projected to fall to 3.5% of GDP year
19:33, 15 September 2021

Ukraine's draft state budget for 2022 envisages economic growth of 3.8%. This was announced by Finance Minister Serhiy Marchenko during the presentation of the 2022 State Budget at a government meeting. 

"The draft budget envisages GDP growth of 3.8%, inflation at 6.2%, and an average annual exchange rate of UAH 28.6 per U.S. dollar," Marchenko said.

Related: Ukraine's GDP falls for second year in row

According to him, the country's main financial document takes into account the objectives of the medium-term policy. The priorities of the budget for 2022 are a 1.6-fold increase in the salaries of doctors and health workers, an increase in the amount of student scholarships, and the provision of housing for all Donbas war veterans who are on the housing waiting list.

The budget deficit next year is projected to fall to 3.5% of GDP year.

Meanwhile, the Cabinet of Ministers of Ukraine has approved the draft law on Ukraine's state budget for 2022. This was announced by the Prime Minister of Ukraine Denys Shmyhal during a government meeting.

"The budget for 2022 is not only balanced and realistic, but also the budget for modernizing the country, restoring the economy and investing in people, in their health, education and development," he said.

Shmyhal also noted that one of the important innovations of the budget, which is based on the presidential decree, is the establishment of the minimum salary of doctors at UAH 20,000 ($751) and the minimum salary of medics at UAH 13,500 ($507). Accordingly, the average salary of a doctor next year will exceed UAH 22,500 ($845). In general, the average monthly salary in Ukraine next year will reach almost UAH 15,500 ($582).

Related: Ukraine's real GDP in Q1 2021 falls by 2.2 percent compared to that in Q1 2020

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