Finance ministry not to revise national budget until updated outlook released

The economy ministry will present an assessment of macroeconomic situation as early as next week.

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The Ministry of Finance of Ukraine will not be revising the 2020 state budget without a thoroughly updated macroeconomic forecast set to be prepared by the Ministry of Economy.

"I would not touch on budget parameters in general," that's according to Finance Minister Ihor Umansky, the ministry's press service reports.

"We want to understand the macro-frame based on which we are to build and revise the state budget. So far this macro-frame is lacking. The reason is the high volatility of global financial markets and global uncertainty regarding the course of the coronavirus pandemic," the minister is quoted as saying.

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Umansky added that the Ministry of Economy would release its assessment of macroeconomic situation as early as next week.

As UNIAN reported earlier, the state budget of Ukraine in January-February 2020 received UAH 122.633 billion of income, which is UAH 17.229 billion, or 12.3%, below the target.

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