Draft 2016 budget to be designed on basis of current taxation base – finance minister

12:57, 08.09.2015 1 min read

The draft 2016 national budget will be drawn up on the basis of the current taxation base, not taking into account tax reform, Finance Minister of Ukraine Natalie Jaresko has said.

"We submit the draft 2016 budget which is based on current laws," she told reporters on Monday.

She said that according to the Budget Code, the government is to submit the draft national budget for next year to the parliament before September 15. The draft law is to be drawn up on the basis of current laws.

She said that when the tax reform is approved, the government would amend the draft 2016 budget.

Jaresko said that the new taxation model foresees a budget deficit of UAH 25-30 billion.

She said that the deficit could be covered by additional payments from the customs service, operation of state enterprises, and could also be compensated by reducing budget expenditure.