Ukraine plans to reduce public finances deficit to 8.8% of GDP – Jaresko

13:10, 27.04.2015 1 min read

The Ukrainian government plans to cut the public finances deficit to 8.8% of GDP in 2015, compared to over 11.6% of GDP in 2014, Finance Minister Natalie Jaresko has said.

"I guarantee that we will restructure the debt," she said on Saturday at the "Ukraine: Escape from Post-Soviet Legacy?" symposium held by VoxUkraine platform in Kyiv on April 24-26.

She said that due to the kleptocracy of the Yanukovych regime Ukraine's state debt grew from $46 billion to $78 billion.

Jaresko said the state debt has been reduced by 20%, although due to devaluation the servicing of state debt for a country at war is too large – 13% of GDP.

She that under these conditions debt restructuring is urgent and it should include not only the prolongation of the debt, but the reduction of the rate as its nominal sum, so that from 2020 state debt does not exceed 71% of GDP, and its servicing – 10% of GDP.