13:33 05.11.2019

Govt increases receipts by UAH 13 bln, expenditure by UAH 15 bln in draft national budget 2020 for second reading, deficit is 2% of GDP – finance minister

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Govt increases receipts by UAH 13 bln, expenditure by UAH 15 bln in draft national budget 2020 for second reading, deficit is 2% of GDP – finance minister

The Cabinet of Ministers of Ukraine has increased budget expenditure by UAH 15 billion during the revision of the draft national budget for 2020 for second reading by the Verkhovna Rada, to UAH 1.18 trillion, which is UAH 68 billion more than in 2019, not taking into account the amendments to the national budget for 2019 passed by parliament last week.

The deficit of the national budget is proposed to set at 2.09% of GDP compared with 2.28% in 2019 and 2.4% in 2018.

According to the materials published by the Finance Ministry, it is proposed to determine the receipts of the national budget for 2020, taking into account the repayment of loans, in the amount of UAH 1.093 trillion, which is UAH 67 billion more compared to the national budget for 2019 until it is reduced by UAH 19 billion by the law passed on October 31.

Ukrainian Finance Minister Oksana Markarova said that the revenue plan for the special fund was increased by UAH 3 billion in the hope of adopting a law on gambling. The revenue plan of the general fund of the national budget fund has been increased by UAH 10 billion thanks to an increase in dividends from state-owned companies, a slight increase in the expected receipts from income tax and from rental of state-owned property, Markarova said.

According to her, an additional UAH 15 billion of expenses are provided mainly to teachers' salaries and basic schools, a program to support medicines and treatment abroad, the development of culture and tourism, social programs worth more than UAH 1 billion and a program of developing airports and building bridges.

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