Ukraine approves IMF-compliant 2018 state budget

Source: Xinhua| 2017-12-08 18:04:01|Editor: ZD
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KIEV, Dec. 8 (Xinhua) -- The Ukrainian parliament has adopted the country's 2018 state budget Thursday overnight, pegging its deficit target at about 2.4 percent of the gross domestic product -- in line with requirements of the International Monetary Fund (IMF).

The budget was passed with the support of 273 lawmakers, 47 more than the minimum threshold of 226 lawmakers, according to a statement on the parliament's website.

The budget plan envisages Ukraine's fiscal revenues this year at about 33.7 billion U.S. dollars and expenditures at 36.4 billion dollars. It is based on the expected economic growth of 3 percent and inflation of 9 percent.

Ukraine's spending on defense next year is expected to remain at 5 percent of the country's gross domestic product and reach 6.09 billion dollars.

The budget also envisages increased support for agriculture, road construction, energy efficiency, education, science, healthcare and culture.

In 2018, Ukraine is counting on receiving a total of 3.5 billion dollars from the IMF's 17.5-billion-dollar bailout program.