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Cabinet of Ministers endorses draft budget for 2019

2019-draft-budget is built on the forecast of growth Gross Domestic Product (GDP) of three percent, inflation - 7,4 percent
21:20, 14 September 2018

Ukrainian photo

During the special extraordinary session, the Cabinet of Ministers adopted a draft budget for 2019 and decided to refer it to the Ukrainian Parliament, 112 Ukraine reports.

The Government offers the project of the State budget based on the forecast of economic growth by three percent.

‘We are planning that the expected rate will still remain at three percent in 2019. At the same time, we accept that the Ukrainian GDP will grow,’ Prime Minister Volodymyr Groysman claimed.

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Regarding the inflation forecast, Groysman advised that the growth of the consumer prices is set at 7.4 percent.

According to the draft budget, the expenses for the defense sector in 2019 will be $7.5 billion.

It is planned to increase the Road Fund – it is pledged into 2019 draft budget in the amount of $2 billion, which is $300 million more than in 2018.

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Considering the public debt, according to the forecast, it should be 52 percent of GDP in 2019. Yet by 2020, the Government plans to decrease it by less than 50% of GDP.

Reportedly, according to the law, the draft budget should be referred to the Ukrainian Parliament until September 15. There is a mention of budget consideration in the timetable of the Parliament. According to the timetable of the Parliament’s sessions, it will be possible to introduce the draft for 2019 on September 21.

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