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Ukraine: Fiscal Policy Faces Unsolved Problems

Published: December 19, 2012; 16:16 · (Vindobona)

The budget draft for 2013 provides no room for the fiscal consolidation, which looks incompatible with the IMF requirements.

Ukraine: Fiscal Policy Faces Unsolved Problems / Picture: © Calculation

On Thursday, December 6th, the outgoing Verkhovna Rada gave a final approval to 2013 budget draft. According to the document, central budget revenues are planned at the level of UAH 361.5 bn, while the expenditures will constitute UAH 410.7 bn. The budget deficit is envisaged at the level of UAH 50.4 bn, 3.2% of GDP. The target for the tax revenues is set at UAH 300.7 bn…

This article includes a total of 498 words.

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