Ukraine needs to cut ‘unrealistic’ budget – Bloomberg

Ukraine needs to cut ‘unrealistic’ budget – Bloomberg

Ukrinform
Ukraine needs to cut budget spending in 2016 as delayed privatization and a weak economic recovery prevent revenue from keeping pace with costs.

This is said in the article posted on Bloomberg.

"Ukraine’s government needs to cut spending to steer the 2016 budget back to the goal agreed on with international lenders, as delayed privatization and a weak economic recovery prevent revenue from keeping pace with costs," the article reads.

It is underscored that Kyiv is seeking to restart the flow of funds by securing two aid tranches from the International Monetary Fund, EUR 600 million from the European Union and $1 billion in U.S. loan guarantees by the end of the year.

Bloomberg reminds that Ukrainian Finance Minister Oleksandr Danylyuk earlier described the state budget for 2016 as unrealistic and stressed that the fiscal risks were very high. However, he declined to specify what areas may be targeted for budget cuts.

ol


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2019 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-