Finance Ministry could attract UAH 50 bln to fund state budget deficit by late 2019

13:27, 26.10.2019 1 min read

The Ministry of Finance should by the end of 2019 finance the national budget deficit for UAH 50 billion through borrowings, Finance Minister Oksana Markarova has said.

"As of today, about UAH 50 billion needs to be financed by the end of the year. This is still a rather large amount. Therefore, we have not yet completed the budget spending report," Makarova said in an interview with the LB.ua edition.

At the same time, the Ministry of Finance will follow the government debt management strategy, she said.

"For the last three months, we have been reducing the cost [of borrowings] every Tuesday and doing it with incremental steps. We have to constantly seek a balance so that we could reduce the cost and finance the budget," she said.

As reported, the national budget in January-September 2019 posted a deficit of UAH 20.6 billion. The law on the national budget for 2019 determines the ceiling budget deficit in the amount of UAH 89.9 billion, including UAH 69.6 billion for the general fund.