11:19 08.05.2015

No possibility of increasing budget social payments now – finance minister

1 min read

Growth of revenue of the national budget in the past months is mainly linked to the hryvnia devaluation which entails the relevant increase in budget expenses, and there are no funds to increase social payments now, Finance Minister of Ukraine Natalie Jaresko has said.

"We don't have the opportunity [of increasing budget social payments] if we have it I'm ready [to do this]," she said on the sidelines of the roundtable organized by the U.S.-Ukraine Business Council (USUBC) in Kyiv on Thursday.

Commenting on the surplus of the national budget in the first quarter of 2015, Jaresko said that this is a temporary phenomenon caused by devaluation, and not by economic growth. On the contrary, the economy fell by 15% over the period, and one cannot make conclusions on the basis of figures for only one quarter.

She said that the level of revenues that would allow securing social expenses next year should be reached.

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