• Українською
  • Prime Minister: In this year's budget all the objectives will be met
    Communications Department of the Secretariat of the CMU, posted 03 December 2020 13:11

    The current economic situation allows Ukraine to fulfill the 2020 budget.

    This was stated by Prime Minister Denys Shmyhal in an interview with "Correspondent".

    "The tax service has already fulfilled the annual revenue plan, while the customs is still lagging behind the planned revenues. There are good reasons for this. It is not the first time that we have managed to change the management of the customs to remove abuse, corruption and bring order to its work," stressed Denys Shmyhal. 

    Apart from that, the Prime Minister accentuated that there is a market for external and internal borrowing to cover this year’s budget expenditures - traditional sources used by Ukraine during the Independence years.

    "We still have a few auctions to place domestic bonds. Of course, these will be short- and medium-term borrowings, and they will be more expensive (at 10-13% per annum in hryvnia) than IMF funds," said the Prime Minister.

    At the same time, Denys Shmyhal stressed that if Ukraine knew the date of arrival of the IMF mission and disbursing the next tranche, then bridge loans would be quite a good working tool.

    "Besides, there is an opportunity to enter the foreign borrowing market by December 15. It will also be short-term loans, up to six months. Volumes depend on budget execution and the size of its deficit. In the domestic market, it could be 50-60 billion hryvnias, in the foreign market - about 1 billion dollars," said the Prime Minister.

    Denys Shmyhal emphasized that the Government expects the announcement of the date of arrival of the IMF mission this year.

    Prime Minister: In this year's budget all the objectives will be met