Finance Ministry plans to reduce state debt to 60% of GDP by 2020

Finance Ministry plans to reduce state debt to 60% of GDP by 2020

The Finance Ministry of Ukraine expects that the state debt will decrease to 60% of GDP by 2020.

Finance Minister Oleksandr Danyliuk said this during a Government Question Hour meeting on Friday, April 6, an Ukrinform correspondent reports.

"The government conducts a consistent policy aimed at stabilizing the financial system, reducing the budget deficit, which allows us to form a resource so that to reduce the need for borrowings. The level of debt burden fell from 81% of GDP to 71.8% compared with 2016 -2017. This is the result of government’s policy," said Danyliuk.

He noted that the budget resolution envisages a reduction in the deficit of the state budget to 2.2% next year.

"This will allow us to continue this policy. It will enable us to reduce the level of debt to about 60% [of GDP] until 2020," said Danyliuk.


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