REUTERS
Ukrainian Finance Minister Natalie Jaresko announces that the deficit of Ukraine's national budget in 2015 shrank to UAH 45.2 billion, or 2.3% of GDP, due to financial restructuring measures.
"In 2015, the budget deficit was reduced to UAH 45.2 billion, or 2.3% of GDP. The prudent fiscal policy is a necessary but not sufficient condition for the resumption of economic growth," the minister said at a government meeting on Wednesday.
Jaresko noted that despite a difficult economic situation the government had managed to significantly reduce the gap between the state budget revenues and expenditures.
"With an increase in spending, we've managed to reduce the budget deficit by more than 33.4% as compared to 2014," Jaresko said.
As UNIAN reported earlier, Ukraine's 2015 state budget projected revenues at UAH 502.260 billion, and expenditures at UAH 566.870 billion. The deficit was capped at 4.1% of GDP, and state debt was limited to UAH 1.394 trillion.