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The Cabinet of Ministers was forced to reduce the deficit of the draft state budget for 2021 from 6 to 5.5%. The reason for this was negotiations with the IMF.
Finance Minister Sergei Marchenko spoke about this at a briefing.
He noted that the deficit for the second reading of the Verkhovna Rada had to be adjusted depending on the situation with the possibilities of obtaining loans.
“We had difficult negotiations with the IMF. In the first place, because it was necessary to reach a compromise on spending and deficits. We agreed on the parameters of the deficit and we were forced to accept a situation in which we had to reduce the deficit. Those calculations that were in place. before “In the first reading, it was necessary to adjust according to the possibilities of our loans,” said Marchenko.
Let us remember that the Cabinet of Ministers has reduced the deficit in the preliminary draft of the state budget for 2021. In the second reading, the deficit was reduced from 6.0% to 5.5% of gross domestic product (GDP).
Note that the budget deficit was one of the topics of negotiations between Ukraine and the International Monetary Fund. In September, Ukrainian Prime Minister Denis Shmyhal said the IMF demanded to cut the deficit.
Today, the Cabinet of Ministers approved the revised state budget project for next year. Now the bill will be sent to the Verkhovna Rada.
Read more about the state budget for 2021 in the RBC-Ukraine article “Budget games. How the Cabinet of Ministers and the Rada divide the State Treasury for 2021”.
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