Finance Ministry not ruling out possible revision of state budget for 2020

Finance Ministry not ruling out possible revision of state budget for 2020

The Finance Ministry has stated that the state budget for 2020 may be revised, including in the direction of a positive scenario, according to the ministry’s press service.  

"I would not rule out such an option. After all, the budget was drawn up in March and it is difficult to predict what awaits us until September, in the fourth quarter. It may be a positive scenario, when it will be necessary to increase revenues if we see a good trend. I would not follow a negative scenario now, as there is no reason. We have already adjusted the rather strict budget, there was a curtailment of certain expenses, plus we increased the deficit," Finance Minister Serhiy Marchenko stated this in an interview with HB Business.

He noted that Ukraine, like other countries, is emerging the coronavirus crisis, it is easing quarantine restrictions.

"But there is a risk that there may be another outbreak," Marchenko said.

As reported, the Verkhovna Rada in April approved amendment to the state budget for 2020. According to the document, the budget deficit was increased by UAH 202 billion, to UAH 298.4 billion (from UAH 96.3 billion), revenues were reduced by UAH 119.75 billion, to UAH 975.8 billion (from UAH 1.096 trillion), and expenditures were increased by UAH 82.4 billion, to UAH 1.266 trillion (from UAH 1.184 trillion).


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 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 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.

© 2015-2020 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: