Ukrainian government retains 3% of GDP deficit projection when finalizing state budget for 2017

10:22, 03.11.2016 1 min read

The Cabinet of Ministers of Ukraine takes into account lawmakers' proposal to retain the 2017 national budget deficit at 3% of the gross domestic product (GDP) when finalizing the draft state budget for the second reading, Prime Minister Volodymyr Groysman has said.

"We believe that the balance will be maintained, the deficit will be at the level of 3% [of GDP], as planned: through bringing the economy from the shadow and equitable distribution of taxes we will be able to raise the minimum wages in the public sector," he said opening a meeting of the Cabinet of Ministers in Kyiv on Wednesday.

Groysman said that the government confirms its plans to double the minimum wages starting from January 1, 2017 - to UAH 3,200 per month.

"All the calculations were made and we do understand that this will be a reality starting from January 1," the prime minister said.