REUTERS
The relevant bill will be considered in the first reading.
Chairman of the Verkhovna Rada of Ukraine Dmytro Razumkov has said the Verkhovna Rada, Ukraine's parliament, will consider the draft national budget for 2020 on October 18.
Read alsoUkraine's draft budget for 2020 based on 3.3% GDP growth forecast – Finance minister
"The bill on the national budget for 2020 will be tentatively submitted for consideration by the Verkhovna Rada in the first reading on October 18," he said at the Conciliation Council meeting of parliamentary factions (groups) on October 1.
The speaker reiterated the draft national budget for 2020 was submitted to parliament on September 20. The lawmakers had to submit their proposals before October 1. The budget committee should process them by October 15.
As UNIAN reported earlier, Ukraine's Cabinet of Ministers submitted the draft law on the State Budget of Ukraine for 2020 to parliament, which provides for UAH 1.079 trillion (US$44.6 billion) in revenue and UAH 1.170 trillion (US$48.4 billion) in expenses. The maximum deficit of the national budget is set at UAH 95 billion (US$3.9 billion), or 2.09% of GDP, while the state and government-guaranteed debt is fixed at 54.1% of GDP.
The draft budget for 2020 is based on the current macroeconomic forecast with a 3.3% GDP growth and an exchange rate set at UAH 28.2 per U.S. dollar. However, the government promised to finalize the project taking into account the updated forecasts.
On September 20, the Verkhovna Rada accepted for consideration the government-drafted budget of Ukraine for 2020.