REUTERS
The document implies a decrease in the budget deficit from 2.4% of GDP in 2018 to 2.3% of GDP in 2019.
The Verkhovna Rada, Ukraine's parliament, has taken into consideration the draft budget for 2019 approved by the Cabinet of Ministers.
"The presentation of Bill No. 9000 on the national budget of Ukraine for 2019 is completed. From now on, the parliament will proceed to discuss the budget," Chairman of the Verkhovna Rada of Ukraine Andriy Parubiy said on September 21.
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The document implies a decrease in the budget deficit from 2.4% of GDP in 2018 to 2.3% of GDP in 2019.
Presenting the draft budget to MPs, Acting Finance Minister of Ukraine Oksana Markarova called fiscal consolidation its priority. "The state budget deficit has been shrinking over four years. We set a clear priority for 2019 not to exceed 2.28% or UAH 90 billion (US$3.2 billion)," she said.
In turn, head of the Verkhovna Rada Budget Committee Andriy Pavelko called on lawmakers to submit proposals to the draft budget by October 1, suggesting compensators with regard to increasing costs or reducing revenues.
As UNIAN reported earlier, Ukraine's government on September 14 approved the draft budget for 2019 and submitted it to the Verkhovna Rada. The document foresees a 3% increase in GDP amid 7.4% inflation.
The draft national budget for 2019 envisages UAH 1.008 trillion ($35.8 billion) in revenue and UAH 1.094 trillion ($39.9 billion) in expenditures. The budget deficit is capped at UAH 89.989 billion ($3.2 billion), or 2.3% of GDP, while state debt at UAH 2.449 trillion ($87 billion).
The national budget of Ukraine for 2018 sets a goal of UAH 917.9 billion ($32.6 billion) in revenue and UAH 991.7 billion ($35.3 billion) in expenditures. The budget deficit is capped at UAH 80.6 billion ($2.9 billion), or 2.4% of GDP.