15:14 25.09.2020

Cabinet consulting with IMF on possibility of reducing 2020 state budget deficit - Shmyhal

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Cabinet consulting with IMF on possibility of reducing 2020 state budget deficit - Shmyhal

 Prime Minister of Ukraine Denys Shmyhal says the government is in talks with the International Monetary Fund (IMF) on the possibility of reducing the state budget deficit for 2021.

"The income part today is less than the expenses that we have to carry out. A deficit arises, the deficit is covered from various sources, in particular from borrowed. These are international loans, external borrowing and internal borrowing ... This year the deficit is 7.5%, about UAH 298 billion. Next year we plan 6%, but now we are negotiating with the International Monetary Fund to reduce it a little," Shmyhal said at a meeting with students of the Lviv Polytechnic National University in Lviv.

The prime minister stressed that the government will fulfill the 2020 budget and the 2021 budget.

According to him, the authorities expect a moderate economic growth, which has already begun.

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