REUTERS
The deficit of the budget is set at US$3.8 billion.
Ukraine's 2020 budget draft finalized for the second reading is based on the forex rate set at UAH 27.5 per U.S. dollar by the end of next year.
"The figures were estimated with the use of the forecast rate of UAH 27.5 per U.S. dollar by the year's end," the explanatory note to the budget bill, which was posted on the Verkhovna Rada website, says.
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The base-case macroeconomic outlook prepared by the government for 2020, which became the basis for the finalization of the draft, assumes an average annual rate of UAH 27 per U.S. dollar.
As UNIAN reported earlier, the Cabinet of Ministers on November 5 submitted a finalized draft budget for 2020 to the parliament, which will consider it in the second reading. The document is based on an updated forecast of a 3.7% increase in GDP.
According to the document, budget revenue will amount to UAH 1.094 trillion (US$44.1 billion at the current forex rate), spending to UAH 1.180 trillion (US$47.6 billion), the budget deficit is limited to UAH 94 billion (US$3.8 billion), and the cap on state debt is set at UAH 2.364 trillion (US$95.3 billion).