The 2020 budget draft is passing its first reading / Photo from UNIAN
Lawmakers on Friday started considering next year's budget draft in the first reading.
Ukraine's draft budget for 2020, which was been submitted for consideration in parliament in the first reading, is based on a 3.3% GDP growth forecast, which was prepared in May 2019.
"The budget we're discussing is based on the macroeconomic forecast prepared in May 2019," Ukrainian Finance Minister Oksana Markarova said while introducing the document in parliament on Friday, September 20.
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"The review of the macroeconomic indicator, which, in keeping with the Budget Code, could been done between the first and second reading, is pending. Therefore today the budget is based on real GDP growth by 3.3% and all those macroeconomic indicators and social standards approved by the former Cabinet," she said.
As UNIAN reported earlier, the Cabinet of Ministers of Ukraine projected Ukraine's GDP growth in 2019 at 3%, the National Bank at 2.5%, the International Monetary Fund at 2.7%, and the World Bank at 2.9%.
According to the consensus forecast compiled by UNIAN based on experts' estimates, the country's economic growth in 2019 will slow to 2.8%.