The 2020 budget deficit amounted to 215.5 billion

The state budget deficit last year turned out to be 59 billion hryvnia less than planned.

The state budget deficit in 2020 amounted to 215.5 billion UAH against the plan of 274.5 billion UAH, the Finance Ministry said on Monday, January 4, citing data from the Treasury Service.

Thus, last year, the expenses amounted to 1,098 trillion UAH, or 96.7% of the annual list.

At the same time, it is emphasized that social spending, defense spending, debt service, subsidies and subsidies to local budgets were fully financed.

The Treasury previously reported that the 2020 state budget revenue amounted to 1,075 trillion UAH, which is 1.5% higher than the expected figure and 7.7% more than the previous year.

“According to operational data, actual state loans in the general fund of the state budget for 2020 amounted to 621.5 billion UAH, or 93.8% of the forecast,” the Finance Ministry added.

Note that in the budget for 2021, the deficit is expected to reach 5.5% of GDP or 246.35 billion UAH.

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