Ukrainian parliament approves government budget for 2020

Source: Xinhua| 2019-11-15 18:39:38|Editor: xuxin
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KIEV, Nov. 15 (Xinhua) -- Ukrainian parliament has approved the government budget for 2020, its official website reported on Thursday.

According to the budget endorsed on Wednesday, the Ukrainian government is expected to have 1.094 trillion hryvnias (45.27 million U.S. dollars) in revenues in 2020, while putting expenses at 1.18 trillion hryvnias (50 million dollars).

It allows a maximum deficit of 94.3 billion hryvnias (3.9 billion dollars) or 2.09 percent of the gross domestic product (GDP).

In the budget, the Ukrainian government set defense and security spendings at 245.8 billion hryvnias (10.17 billion dollars) or 5.45 percent of the GDP, a record since Ukraine's independence in 1991.

The public debt of Ukraine next year is expected to amount to 2.05 trillion hryvnias (80 trillion dollars) while the planned repayments of public debt will amount to 282.1 billion hryvnias (11.67 billion dollars).

At the end of September, Finance Minister Oksana Markarova presented at the parliament the draft state budget for 2020 which is based on a 3.3 percent GDP growth outlook.

The minister stressed that the budget plan is realistic and well-balanced. According to him, it will work to fund priorities on the government agenda, facilitate the development of Ukraine's defense capabilities and support the government's social and public debt payments.