13:47 18.11.2020

Former Finance Minister Umansky calls for public reduction of 2020 state budget outlay plan by about UAH 100 bln

1 min read
Former Finance Minister Umansky calls for public reduction of 2020 state budget outlay plan by about UAH 100 bln

Former Minister of Finance, ex-adviser to the head of the Office of the President of Ukraine Ihor Umansky has called for a public reduction of the 2020 national budget outlay plan, by about UAH 100 billion.

"We understand that de jure, in a transparent way, or de facto, there will be the reduction of the budget outlay plan in Ukraine this year. But I am convinced that doing it manually by officials with incomprehensible motivation is the wrong way," Umansky said at the press briefing under the walls of the Verkhovna Rada on Wednesday.

"What I see from the way I communicate with representatives of the government, the market, at least UAH 100 billion will not be spent," he added, answering a question from Interfax-Ukraine.

He said that social expenses are under threat, first of all. At the same time, the money printing creates risks for macroeconomic, exchange rate and inflationary stability, but will only make it possible to postpone the collapse of the system for a short time.

Umansky also criticized tax and customs reforms, noting that the practice of delays in budgetary VAT refunds has resumed.

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