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Source: Government of Ukraine

During a working trip to Lviv region, Prime Minister Denys Shmyhal talked to students of Lviv  Polytechnic National University and answered questions about the draft state budget for 2021. Denys Shmyhal stressed that this year the state budget deficit is 7.5% of GDP, and in 2021 it will be reduced to 6% of GDP.

“This year the deficit is 7.5%, about UAH 298 billion. Next year we plan 6%, but now we are negotiating with the International Monetary Fund to reduce it a little. At the same time, both this year’s budget and next year’s budget are realistic and will be fully implemented, “said Denys Shmyhal.

According to the PM, the Government’s strategy is to further reduce both the budget deficit and Ukraine’s public debt. Also, the Head of Government noted that in the third quarter of 2020 there is moderate economic growth, which will continue in 2021.

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