Photo from UNIAN
Ukraine's international reserves in 2018 rose to more than US$20 billion, updating the five-year maximum.
Ukrainian Prime Minister Volodymyr Groysman says the Cabinet intends to systemically implement budgetary rules proposed by the Finance Ministry in order to ensure the stability of the hryvnia, the national currency.
"The country's external and internal debt shall account for no more than 60% of GDP. This is also about risk reduction. We will do all these things systemically so that Ukraine has low inflation, stable currency, and slow inflation," Groysman told a government meeting on Jan 10.
Read alsoIMF money to keep Ukraine stable despite elections: Reuters poll
In particular, the new budgetary rules drafted by the Finance Ministry suggest that Ukraine's state and government-guaranteed debt shall not exceed 60% of GDP, while the state budget deficit shall account for no more than 3% of GDP.
Groysman added that Ukraine's total international reserves in 2018 grew to over $20 billion, updating a five-year maximum.
As UNIAN reported earlier, the Ministry of Finance of Ukraine would start drafting out the first three-year budget declaration the following week. The document is expected to be submit for approval to the Cabinet of Ministers before May 15.
Inflation in Ukraine in December 2018 in annual terms – compared to December 2017 – stood at 9.8%, slowing from 13.7% in December 2017 year-over-year.