State budget deficit in Ukraine up 8.5 times

Over the two months, the Ministry of Finance placed domestic bonds in the amount equivalent to UAH 60.1 billion.

The state budget of Ukraine over January-February 2019 saw a deficit of UAH 13.6 billion, which is 8.5 times more than the figure recorded in the same period last year, according to the Ministry of Finance of Ukraine.

The deficit was financed by domestic borrowing, the report reads.

It is noted that over the two months, the Ministry of Finance placed domestic bonds in the amount equivalent to UAH 60.1 billion.

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Also, the Ministry recalled that on March 1, the government’s currency account was replenished by receiving loan funds against World Bank guarantees in the amount of EUR 512 million.

As UNIAN reported earlier, State Budget 2018 laid down a deficit of UAH 59.248 billion, which is 23.7% more than that for 2017, with the ceiling of UAH 80.6 billion, or 2.4% of GDP.

State Budget 2019 provides for revenues in the amount of UAH 1.026 trillion, expenses – at UAH 1.112 trillion, and sets a deficit ceiling at UAH 89.989 billion.